⁍ The Hong Kong Monetary Authority sold HK$2.325 billion ($300 million) into the market in New York trading hours.
⁍ The aggregate balance – the key gauge of cash in the banking system – will increase by HK$10.85 billion.
⁍ The Hong Kong dollar is pegged in a narrow range of 7.75-7.85 to the U.S. dollar.
– The Hong Kong dollar hit the strong end of its trading band against the US dollar on Tuesday, prompting the Hong Kong Monetary Authority to sell $300 million into the market in New York trading hours, Reuters reports. The Hong Kong dollar is pegged in a narrow range of 7.75-7.85 to the US dollar. The HKMA has been conducting sales in recent sessions to weaken the currency to keep it within that trading band.
Source: https://www.reuters.com/article/hongkong-markets/hkma-sells-hk233-bln-in-ny-hours-currency-hits-strong-end-of-band-idUSL4N2HB4YU