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H.K. Dollar Falls to Weak Half of Band for First Time Since ‘19

  • Currency declines to as low as 7.8020 on concerns over omicron
  • It will slide to 7.85 only if the greenback surges, ANZ says
General Views of Hong Kong
Photographer: Paul Yeung/Bloomberg
Updated on

The Hong Kong dollar fell into the weak half of its trading band for the first time since December 2019 as the emergence of a new coronavirus variant hurt the appetite for risk assets.

The exchange rate declined to as low as 7.8020 per greenback, passing the the midpoint of its 7.75 to 7.85 allowed trading range against the U.S. currency. The Hong Kong dollar has fallen 0.3% in November to head for its biggest monthly loss since February 2020.