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The Hong Kong Interbank Offered Rate (HIBOR) may not track US interest rates lower and will be more influenced by local factors, the Hong Kong Monetary Authority (HKMA) said on Thursday, according to Reuters.  

The USD/HKD pair is currently trading at 7.8271, having printed a two-year low of 7.78238 on July 4.

Key quotes

“US rate cut won’t have obvious impact on Hong Kong property market.”

“Financial markets and currency not clearly affected by social incidents.”

“No noticeable outflow of funds of Hong Kong Dollar.”