Hong Kong Monetary Authority continues to intervene in currency markets in April to hold 7.75 line for USDHKD. We explain the move and link to related reports.
Russians buy HKD to beat US sanctions challenge HKMA which has to defend currency peg. Explains why USDHKD did not move with Dollar rally.
7.75 of USDHKD continues to be tested. This post links together some others I have wrote about on this topic including HKMA intervention. With excerpts from Zerohedge and Sovereign Man.
HKMA continues intervention in currency markets to weaken Hong Kong Dollar. There is some relief today as USDHKD rises 1st time in 8 days.
We wondered if HKMA will step in if USDHKD falls below 7.75 and it did. We look at price action to learn from the currency intervention.
USDHKD went below 7.75 today where HKMA intervene massively late 2012. We capture multiple time frame charts and compare to setup back then.
Look at USDHKD test its 7.75 limit, intervention by HKMA at this level in the past and some reasons why long term investors are keen to bet.