USD/CNY projection: 6.7577 - Nomura

Analysts at Nomura offered their model1 projection for the CNY fix.

Key Quotes:

"Our model1 projects the fix to be 266 pips higher than the previous fix (6.7577 from 6.7311) and 181 pips higher than the previous official spot USD/CNY close of 6.7396. The basket implied change is 289 pips higher than the previous official spot USD/CNY close (6.7685 from 6.7396)."