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HKMA Sees No Need, No Plan To Change USD Peg

HONG KONG
  • *HKMA: HONG KONG SEES NO NEED, NO PLAN TO CHANGE DOLLAR PEG
  • *HKMA'S YUE SAYS FULLY CONFIDENT ABOUT DOLLAR PEG
  • *HKMA: AGGREGATE BALANCE DROP EXPECTED; PEG DESIGN TRANSPARENT (BBG)
  • We have seen that the FX reserves have been falling in recent months as the HMKA has been intervening to protect the local currency peg due to the policy/economic divergence between Fed/US ad HKMA/HK (see chart).

Source: Bloomberg/MNI

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  • *HKMA: HONG KONG SEES NO NEED, NO PLAN TO CHANGE DOLLAR PEG
  • *HKMA'S YUE SAYS FULLY CONFIDENT ABOUT DOLLAR PEG
  • *HKMA: AGGREGATE BALANCE DROP EXPECTED; PEG DESIGN TRANSPARENT (BBG)
  • We have seen that the FX reserves have been falling in recent months as the HMKA has been intervening to protect the local currency peg due to the policy/economic divergence between Fed/US ad HKMA/HK (see chart).

Source: Bloomberg/MNI