Intervention in the HK dollar – HKMA sells USD, defends peg

The Hong Kong Monetary Authority (HKMA) have intervened in the HKD market 

  • Bought HKD 2.44bn to defend the peg

The HKD had fallen to the low end of its permitted trading band, where the central bank (HKMA is HK’s central bank) has said it would take action to defend the level

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