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Eddie Yue: HKMA May Need to Intervene If HKD Remains Weak After Half-Yr End
Ever since May, Hong Kong has been seeing an inflow of funds, while carry trades have already emerged, said Eddie Yue, Chief Executive of the Hong Kong Monetary Authority (HKMA).Cu...
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Eddie Yue: HKMA May Need to Intervene If HKD Remains Weak After Half-Yr End
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Ever since May, Hong Kong has been seeing an inflow of funds, while carry trades have already emerged, said Eddie Yue, Chief Executive of the Hong Kong Monetary Authority (HKMA).

Currently, the interest rate spread between HKD and USD has widened to 3-4%, causing the HKD exchange rate to approach the weak-side convertibility undertaking, Yue added.

Related NewsEIA Crude Oil Stocks Change for Jun/13 in United States is -11.473M, lower than the previous value of -3.644M. The forecast was -2.3M.
If this situation persists after the half-year end, Yue emphasized that the HKMA may need to step in again to buy HKD and sell USD, which could lead to HKD interest rates returning to normal levels later on.

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