The USDHKD remained stable even as Hong Kong remained in crisis following the decision by China to bypass Hong Kong law. The USDHKD is trading at 7.7540, which is slightly above the YTD low of 7.7495.
USDHKD dropped to its 3-year lows earlier today after the Hong Kong Monetary Authority (HKMA) cut interest rates after the Fed. The currency pair fell to 7.7567 following the move before settling at 7.7666. The HKMA which oversees Hong Kong’s monetary policy, announced a 50-basis point rate cut, bringing its [...]
Yesterday, Hong Kong Financial Secretary Paul Chan surprised markets and the public when he announced the government’s bold plans to stimulate growth. The city-state has been embattled by problems that pushed its economy into a recession in 2019, namely the anti-China protests and now, the coronavirus outbreak. The news should [...]