USD/CNY fix model Global Markets Research Foreign Exchange - Asia ex-Japan Projection: 6.7775 Model projection: 6.7775 versus 6.8147 previous (372 pips lower; 73 pips higher from the previous official spot close). Model projection with counter-cyclical factor: 6.7962 (185 pips lower from previous fix). Manthan Shingala - NSL manthan.shingala1@nomura.com Fig. 1: Top 4 weighted overnight contribution to projected change (without counter-cyclical factor) Source: Bloomberg, Nomura Source: Nomura Fig. 3: Daily c ...