USD/HKD hits 1-year high on weak Chinese economy and rising interest rates
USD/HKD hits 7.80 for the first time since Sep 2011.it is expected to go up further in the coming months. The combination of US interest rate hike and slow down in Chinese economy is expected to put more pressure on Hong…
USD/HKD hits 7.80 for the first time since Sep 2011.it is expected to go up further in the coming months.
The combination of US interest rate hike and slow down in Chinese economy is expected to put more pressure on Hong Kong economy and HKD this year .
Hong Kong's major trading partner is China with total trade amounted to 52.2% in 2014. HKD has been pegged to the US dollar, and a rally in US Dollar has made Hong Kong exports less competitive.
The pair is expected to trade higher due to weak Chinese economy and Yuan depreciation.
