Hong Kong Dollar Plunges To Weakest Since Aug 2007

Modest overnight weakness in the Hong Kong Dollar has accelerated notably as the US session starts with USDHKD down 150 pips in the last hour, plunging to its weakest against the dollar since Aug 2007...

 

 

12 month forwards have been leading this collapse and still indicate HKD dropping to 7.8650, once again testing the weak-end of the HKDUSD peg band.