Further to yesterday’s action that I
reported here
– another HK$ 4.26bln sold today to add to yesteday’s HK$ 6.59bln to ensure trading band intact
The Hong Kong $ is pegged at 7.8 vs USD but can trade between 7.75-7.85.
However under the rules of the peg the HKMA is obliged to step in when
either extreme is traded to keep the band intact