HKMA’s Yuen: No need to adjust the Hong Kong dollar peg

Dhwani Mehta FXStreet

Deputy Chief Executive Yuen of the Honk Kong Monetary Authority (HKMA), the central bank, said on Monday, he sees no need to adjust the dollar peg.

This comes after the Hong Kong dollar (HKD) weakened sharply over the last week after months of lackluster trading near its ceiling.

Also, the authorities remain concerns heading into the US election this week and its potential implications on the Asian fx market.

At the time of writing, USD/HKD sits at the highest levels in six months at 7.7555, modestly flat on the day.

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