USD/HKD in tight range as Hong Kong manufacturing continues to struggle

The USD/HKD is little changed today as traders react to the Hong Kong manufacturing PMI. The pair is trading at 7.7500, which is the lower side of Hong Kong dollar’s peg. Hong Kong manufacturing sector under pressure Hong Kong’s economy has been under intense pressure in the past two years. Last year, the city experienced large-scale protests that affected all sectors of its economy. And this year, the coronavirus pandemic has seen most of its sectors like retail, real estate, and hospitality decimated. Today, data from Markit showed that Hong Kong’s manufacturing PMI rose from 44.0 to a three-month high