USD/CNY projection: 6.8847 - Nomura

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

Key Quotes:

"Our model1 projects the fix to be 9 pips lower than the previous fix (6.8847 from 6.8856) and 28 pips lower than the previous official spot USD/CNY close of 6.8875. The basket implied change is 33 pips lower than the previous official spot USD/CNY close (6.8842 from 6.8875)."