Economics
Currency Peg Intervention From HKMA Continues Into Third Day
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The Hong Kong Monetary Authority intervened for a third straight day this week to defend its currency peg as the local dollar touched the strong end of its trading band.
HKMA increased its bout of selling in the city’s currency to HK$3.37 billion ($435 million) in the early hours of Thursday local time, according to its page on Bloomberg. The aggregate balance, a measure of interbank liquidity, will increase on April 24 to HK$66.8 billion.