USD/CNY fix model: projected at 6.8907 - Nomura

Analysts at Nomura offered their model1 that projects the fix to be 179 pips lower than the previous fix.

Key Quotes:

"(6.8907 from 6.9086) and 245 pips lower than the previous official spot USD/CNY close of 6.9152."

"The basket implied change is 346 pips lower than the previous official spot USD/CNY close (6.8806 from 6.9152)."