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HONG KONG
HONG KONG: BBG sources note that "some top advisers to President Donald Trump
want the U.S. to undermine the USD/HKD peg."
- The piece notes that "the idea of striking against the Hong Kong dollar peg --
perhaps by limiting the ability of Hong Kong banks to buy U.S. dollars -- has
been raised as part of broader discussions among advisers to Secretary of State
Michael Pompeo and hasn't been elevated to the senior levels of the White House,
suggesting that it hasn't gained serious traction yet."
- It went on to stress that "the proposal faces strong push back from others in
the administration who worry such a move would only hurt Hong Kong banks and the
U.S., not China."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com