USD/HKD: Hong Kong Dollar hits two-year high


Tight liquidity conditions have powered the Hong Kong Dollar (HKD) to its strongest level in two years against the US Dollar

The currency rose to 7.78238 versus the greenback earlier today. That was the highest level since May 2017. As of writing, the HKD is trading at 7.7845 per US Dollar, representing a 0.17% gain on the day. 

A report by Bloomberg says higher borrowing costs have dented HKD’s appeal as the funding currency. 

The one-month Hong Kong Interbank Offered Rate (HIBOR) recently rose to its highest level in more than a decade.

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

AUD/USD: Bids elusive despite above-forecast Aussie CPI

AUD/USD in stasis even as Australia's Q3 CPI beats estimates. The data is unlikely to deter the RBA from postponing additional easing. With coronavirus cases rising across the globe, the RBA is likely to cut rates next month.

AUD/USD News

USD/JPY looks south with bear flag breakdown on 4H chart

USD/JPY feels the pull of gravity as risk sentiment weakens on coronavirus concerns. Deeper losses look likely, as the 4-hour chart shows a bear flag breakdown. The pattern indicates a continuation of the sell-off from the Oct. 20 high of 105.75, possibly toward 104.00. 

USD/JPY News

Gold bounces-back towards $1910 amid growing coronavirus woes

Gold attempts bids amid coronavirus woes-led risk-aversion, as the bulls fight back control amid a sell-off in the US Treasury yields, triggered by the coronavirus concerns-induced risk-aversion. The benchmark US 10-year Treasury yields drop further below the key 0.80% level.

Gold News

WTI falls 1.2% on inventory data

The price of oil has fallen in recent trade as the recent inventory data shows a build on stockpiles, weighing on WTI. Technically, the price is deteriorating on a daily outlook. From a 4-hour perspective, the price might be expected to ....

Oil News

Dumping Dollars before the election

Investors are dumping US dollars ahead of next Tuesday’s US Presidential election. This will be a historic event for the country, the world and the financial markets. The stakes are high and the outcome is uncertain. 

Read more

Forex MAJORS

Cryptocurrencies

Signatures