Early on Friday, global rating agency Fitch downgraded Hong Kong’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘AA’ from ‘AA+’. It also signaled negative outlook for the IDR of Asian economy. Key quotes “Months of persistent conflict and violence are testing the perimeters and pliability of the “one country, two systems” framework.” “The Negative Outlook reflects our view that even with concessions to some protestor demands, a degree of public discontent is likely to persist.” “Hong Kong’s considerable financial buffers to nevertheless remain intact.” FX implications The Hong Kong Dollar (HKD) dropped across the board after the news with the USD/HKD pair rising to 7.84 by the press time. Investors may search for more news as overall trading sentiment is likely being capped ahead of the US employment data while latest concessions to Hong Kong protesters also dim prospects of the pair’s further upside. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Chinese Premier Li: We hope Germany accepts more Chinese companies and loosens export-rules for certain goods FX Street 4 years Early on Friday, global rating agency Fitch downgraded Hong Kong's Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'AA' from 'AA+'. It also signaled negative outlook for the IDR of Asian economy. Key quotes "Months of persistent conflict and violence are testing the perimeters and pliability of the "one country, two systems" framework." "The Negative Outlook reflects our view that even with concessions to some protestor demands, a degree of public discontent is likely to persist." "Hong Kong's considerable financial buffers to nevertheless remain intact." FX implications The Hong Kong Dollar (HKD) dropped across the board after the news with the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
