USD/CNY projection: 6.4481 - Nomura

Analysts at Nomura offered their model's projection for today's USD/CNY fix.

Key quotes:

"Our model1 projects the fix to be 451 pips lower than the previous fix (6.4481 from 6.4932) and 199 pips lower than the previous official spot USD/CNY close of 6.4680. The basket implied change is 266 pips lower than the previous official spot USD/CNY close (6.4414 from 6.4680)."