Hong Kong dollar could be re-pegged, say traders
The recent strength of the Hong Kong dollar, which has tested the outer limits of the USD/HKD currency peg, has led to speculation that the currency could be revalued, or even re-pegged to an alternative currency such as Chinese renminbi.
USD/HKD, which is bound by the currency peg to trade between 7.75 and 7.85, has come under continued pressure as investors have been attracted to the Hong Kong dollar, forcing the Hong Kong Monetary Authority (HKMA) to intervene twice in the past week, buying
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