Weekly Commentary - Revaluation of Hong Kong Dollar
The Hong Kong Monetary Authority intervened currency market recently to stem the strength of the Hong Kong Dollar. This action prompted speculation the currency could be revalued against U.S. Dollar. However, revaluation of currency may prompt more influx of hot money that speculates further revaluation of Hong Kong Dollar, which can result a more instable monetary policy. The revaluation is not likely to happen in the near future.
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