The Hong Kong Financial Authority acts as Hong Kong’s central financial institution. It has intervened to purchase HKD towards the USD to defend its foreign money peg. Fir the primary time since 2019.
It is a chart going again a few years, you’ll be able to see the degrees the HKMA defend:
The USD has been rampantly rising just about towards the whole lot. HKD is not any exception. The HK|MA has been VERY profitable defending the peg. Be very cautious when you imagine ‘this time its completely different’. The graveyard is stuffed with individuals with that chiselled on the gravestone.