Hong Kong central bank says there is no plan or need to change the USD/HKD peg

November 29, 2022
Posted by: AliensFaith
Category: OBJECTIVE PRESS

The Hong Kong Monetary Authority is HK’s central bank.

Chief Executive Eddie Yue with the remarks.

Like many currencies the HKD has been under pressure against the Godzilla-like US dollar. The HKMA operate a ‘peg’ for the HKD, only allowing fluctuations in a prescribed band, you can probably guess where this is from the chart below. The HKMA has held the band successfully in place for many years:

Speculators who have bet against the peg have been about as successful as this guy:

This article was written by Eamonn Sheridan at forexlive.com.

Author: AliensFaith

HighTech FinTech researcher, university lecturer & Scholar. He is studying his second doctoral degree at the Hague International University. Studying different fields of Sciences gave him a broad understanding of various aspects of life. His recent researches covered AI, Machine-learning & Automation concepts. The Information Technology Skills & Knowledge gave his company a higher position over other regional high-tech consultancy services. The other qualities and activities which can describe him are a Hobbyist Programmer, Achiever, Strategic Thinker, Futuristic person, and Frequent Traveler.

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Hong Kong central bank says there is no plan or need to change the USD/HKD peg

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