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Hong Kong spends $2bn to defend currency peg

Energy Daily Thursday, 16 August 2018
Hong Kong spends $2bn to defend currency pegHong Kong (AFP) Aug 16, 2018

Hong Kong's de facto central bank said Thursday it had bought up more than US$2 billion worth of local currency to maintain a long-held peg to the US dollar. The intervention - which began Wednesday and was the latest in a series of moves to support the currency this year - comes as the US dollar rockets on the back of turmoil in emerging markets and the ongoing Turkish lira crisis. T
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Source: Bloomberg Global Business - < > Embed
News video: China's Stock, Currency Downtrend Will Persist for Now, Says Bocom's Hong

▶ China's Stock, Currency Downtrend Will Persist for Now, Says Bocom's Hong 02:03

Aug.13 -- Hao Hong, head of research and chief strategist at Bocom International, discusses Chinese markets, how he's advising his clients and the trade friction between the U.S. and China. He speaks on "Bloomberg Markets: Asia."

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