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HKMA Issues Post-FOMC Statement

HKD

USD/HKD has shed 8 pips thus far and last trades at HKD7.7622, with bears looking for losses past the 100-DMA/Apr 23 low at HKD7.7592/90. Below there would clear the way to Mar 12 low ofHKD7.7576. Bulls need a rally through the 50-DMA at HKD7.7655 before targeting Apr 19 high of HKD7.7737.

  • Hong Kong Monetary Authority issued a post-FOMC statement, noting that the HKD exchange rate & interest rates remain steady, while money markets operate smoothly.
  • HK gov't passed an immigration bill Wednesday that many suspect could be used to prevent dissidents from leaving the city.
  • Data-wise, focus turns to Friday's budget balance & money supply.

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