Industrials, Financials, Automotive May 11, 2022 08:25 AM (GMT+8)
Since the beginning of this year, the Hong Kong dollar exchange rate has continued to weaken. During the US trading session on May 9 and the Asian trading session on May 10, the exchange rate of the US dollar against the Hong Kong dollar repeatedly hit HK $7.85, that is, the weak side's exchange guarantee level. Analysts said that with the start of the Fed's interest rate hike cycle, the market is expected to gradually broaden the Hong Kong US interest rate spread, the US dollar carry trade is active again, and the Hong Kong dollar exchange rate is expected to be further under pressure. Yu Weiwen, President of the Hong Kong Monetary Authority, said recently that under the above background, it is expected that the Hong Kong dollar exchange rate will change from strong to weak, which is a normal phenomenon. He said that Hong Kong dollar transactions continued to be smooth and orderly, and there was no significant risk in market liquidity.
This text is a result of machine translation.