USD/CNY fix model Global Markets Research Foreign Exchange - Asia ex-Japan Projection: 6.7392 Model projection: 6.7392 versus 6.7878 previous (486 pips lower; 29 pips lower from the previous official spot close). Wee Choon Teo - NSL weechoon.teo@nomura.com Vicky Chen - NSL vicky.chen1@nomura.com Source: Nomura Fig. 3: Daily change in USD/CNY fix Source: Bloomberg, Nomura Model projection with counter-cyclical factor: 6.7587 (291 pips lower from previous fix). Research Analysts Asia FX Strategy Craig Chan - ...