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More intervention from Hong Kong Monetary Authority

HKMA sells Hong Kong Dollars again

Hong Kong Monetary Authority took more action over the past few days to intervene in currency markets. The action was meant to keep the Hong Kong Dollar inside its 7.75 – 7.85 peg. This comes after $2.1 billion (HK$16.2B) intervention last week.

HKMA intervenes to defend Hong Kong’s dollar peg, sells HK$10.54 bln on Friday

July 14 (Reuters) – The Hong Kong Monetary Authority (HKMA) stepped into the currency market again during Friday New York trading hours, taking the total of Hong Kong dollars sold that day to HK$10.540 billion ($1.36 billion) as the local currency hit the strong end of its trading range. Earlier on Friday, during Hong Kong trading hours, the authority sold HK$2.325 billion in Hong Kong dollars. The authority intervened on Wednesday and Thursday too.

HKMA intervenes to protect HKD peg, sells HK$1.94 bln

HONG KONG, July 14 (Reuters) – The Hong Kong Monetary Authority (HKMA) stepped into the currency market on Monday, selling HK$1.94 billion ($250.34 million) in Hong Kong dollars as the local currency repeatedly hit the strong end of its allowable trading band.

HKMA intervenes again to defend Hong Kong’s dollar peg, sells HK$2.7b

July 15 (Reuters) – The Hong Kong Monetary Authority (HKMA) stepped into the currency market again on Tuesday, selling HK$2.71 billion ($349.68 million) in Hong Kong dollars as the local currency repeatedly hit the strong end of its allowable trading band.

Strengthening USD provides relief

There must be some respite for HKMA today as USD strengthens broadly yesterday against major currency pairs as well as oil, silver and gold. Result: the first time USDHKD trades above 7.75 in 8 days.

USDHKD daily chart

USDHKD above 7.75 for first time in 8 days

Director, TerraSeeds Market Technician Pte Ltd. Trader, investor. @sohtionghum was picked ‘Top 70 Forex Twitter in 2015’. Operates multiple strategies.

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