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Analysts at Nomura offered their model projections for USD/CNY.

Key Quotes:

“Our model1 projects the fix to be 97 pips lower than the previous fix (6.6302 from 6.6399) and 129 pips lower than the previous official spot USD/CNY close of 6.6431. The basket implied change is 160 pips lower than the previous official spot USD/CNY close (6.6271 from 6.6431).”