Saturday, 8 December 2012

USD/HKD Near Lower End; Selling Pressure Above 7.7500


The USD/HKD remains close to the lower end of its trading band, currently hovering at 7.7501. "Funds are still parking in Hong Kong, with bullish views on a rebound in Chinese shares and its economy," says a senior trader at a local bank. "Selling interest for the pair remains heavy anywhere above 7.7500. The dollar will only trade higher to around 7.7520 next week or closer to year-end when corporate demand for the dollar will outweigh investors' appetite for the Hong Kong dollar."

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