The Hong Kong dollar has rallied back near its peg rate against the US dollar despite broad greenback strength and negative data surprises from Hong Kong, indicating the demand for the local currency with the Bank of Japan loosening the liquidity tap a ...
The Hong Kong dollar is pegged at 7.8 to the U.S. dollar, but can trade between 7.75 and 7.85. Under the currency peg, which has been in place since 1983, the HKMA is obliged to intervene when the Hong Kong dollar hits 7.75 or 7.85 to maintain the band.
South China Morning Post (subscription) - Sep 25, 2014
Housing costs are becoming a serious impediment to Hong Kong's growth and youth opportunities. Beijing's currency manipulation of the renminbi is spilling over into Hong Kong by way of local market pressure on the Hong Kong dollar. Something must give.
The Hong Kong dollar has broken its long-held tight range and plummeted to a six-month low against the US dollar as rising tensions in Asia's financial capital severely affected the investment outlook for the city state under Chinese rule.