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Ted Cruz out of Presidential race

Ted Cruz has dropped out of the Presidential race, CNN reports, noting that his White House bid is over "after a stinging loss to Donald Trump in the Indiana Republican primary."

CNN added: "Though the real-estate mogul won't secure the 1,237 delegates he needs to formally claim the nomination until June, his Indiana triumph makes it almost impossible to stop him."

USD/CNY fix model: Projection at 6.4856 - Nomura

Nomura's model projects the fix to be higher by 291 pips from the previous fix (6.4856 from 6.4565) and higher by 113 pips from the previous spot USD/CNY official close 6.4743. The basket implied change is higher by 614 pips from the previous spot USD/CNY official close (6.5357 from 6.4743), Nomura adds.
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Fed's Lockhart: Fed not behind curve on inflation

President the Federal Reserve Bank of Atlanta, Dennis Lockhart, notes Fed not behind curve on inflation.
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