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HKMA applies expensive ‘medicine’ to support Hong Kong dollar

Treasurers in Hong Kong are eyeing a US rate hike in September, but as uncertainty lingers – and the gap between the rates in HK and the US remains – the HKMA is left to bail out the currency.
HKMA applies expensive ‘medicine’ to support Hong Kong dollar

As one corporate treasurer for a Hong Kong-listed company described it to CT, the Hong Kong Monetary Authority’s intervention this week to support the weakening Hong Kong dollar is like putting together a recipe for Chinese medicine.

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