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Hong Kong's central bank has intervened in the currency again

Analytic Dave

Apr 18, 2023

The Hong Kong Monetary Authority (HKMA) has bought around 6.9bn Hong Kong dollars to support the currency.

The Hong Kong dollar trades in a "band" set by the HKMA

the current trading band is set at 7.75 to 7.85 Hong Kong dollars per US dollar
If the exchange rate of the Hong Kong dollar moves outside the band, the HKMA will intervene by buying or selling Hong Kong dollars in the foreign exchange market to bring the exchange rate back within the trading band

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

from Forexlive RSS Breaking News Feed https://ift.tt/xykdqHm

Analytic Dave

AnalyticalDave is a personal financial analysis portfolio that captures my Derivatives trading, stock, and investing journey. My portfolio does NOT act as a financial advisor to any community. It is only purposed for journaling my story as a self-taught trader and investor.

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