Wednesday, 14 November 2012

USD/HKD Tad Higher, But Strong Stocks Weigh

The USD/HKD is a tad higher at 7.7505 vs 7.7504 late Tuesday in Asia, but the pair's upside looks limited as fund inflows continue amid local stocks' recent strength, says a senior trader at a local bank. The HSI is last up 0.8%. "Capital inflows continue to keep the pair under pressure. Still, trading volume isn't very high, leaving the pair in a narrow range," the trader adds. He tips the pair to stay in a 7.7500-7.7510 band in the near term.

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