Hong Kong Dollar Drops Most Since June After Ant Closes Books
- Pegged currency had been boosted by demand for firm’s IPO
- Recent strength had spurred repeated interventions by HKMA
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The Hong Kong dollar moved away from the strong end of its trading band for the first time since Ant Group Co.’s initial public offering was mooted two months ago.
The currency declined as much 0.05%, the most since June 16, to 7.7537 versus the greenback. It pared the drop to 7.7517 as of 3:32 p.m. in the city.