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As USD Index Sinks 0.5%, HKD Nears Strong Side
With U.S.-China trade tensions boiling up, the USD Index continued to weaken this morning (14th), sinking 0.48% to 99.625, prompting the HKD to hover near the Strong-side Convertib...
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As USD Index Sinks 0.5%, HKD Nears Strong Side
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With U.S.-China trade tensions boiling up, the USD Index continued to weaken this morning (14th), sinking 0.48% to 99.625, prompting the HKD to hover near the Strong-side Convertibility Undertaking (CU) level of 7.75 to USD1, currently at 7.7571 to USD1.

If the HKD breaks above the Strong-side CU level against the USD, it would prompt intervention by the Hong Kong Monetary Authority (HKMA), with the last such action occurring four years ago.

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Ken Cheung, Chief Asian FX Strategist at Mizuho Bank, stated that the HKD may remain between 7.75 and 7.76 to USD1 due to USD weakness.

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