Hong Kong Dollar Approaches 7.85 Peg Limit as US Dollar Falls 7.5%
Key Points
- The Hong Kong dollar is nearing its weak trading band limit ...
When your currency is tied to someone else's and they start stumbling around like they've had one too many at the office party, you know you're in for an interesting ride. The Hong Kong dollar is currently doing its best impression of a tightrope walker as it inches dangerously close to the weak end of its trading band at 7.85 against the US dollar.
The Hong Kong Monetary Authority isn't exactly throwing confetti about this situation. With the Fed keeping interest rates steady while the US dollar has face-planted by over 7.5% since January, the HKD is finding itself in that awkward position o...
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