Hong Kong Dollar Nears Strong End of Band as Peg Concerns Fade
- Currency rebounds after plunging to eight-year low in January
- Stabilizing yuan also boosting currency: Bank of Singapore
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Hong Kong’s dollar headed toward the stronger end of its trading band against the U.S. currency on growing confidence in the future of the city’s 32-year-old peg and as the yuan stabilized.
The Hong Kong dollar is trading within 0.06 percent of the strong end of its trading band of HK$7.75-HK$7.85 against the greenback. The local dollar added 0.01 percent to HK$7.7545 at 4:53 p.m. in Hong Kong, data compiled by Bloomberg show.