HKD is getting weak
Government no longer buy back HKD at 7.757
Comment:
Look at the resistance at 7.757 purposely set by the Hong Kong Government to use it USD reserve to buy back HKD. Today it just breaks at 7.758.
Combine with the treasury deficit forcast and the addtional equity transaction tax, this raises speculation the government is planning to make the HKD weak and no longer purpose pump the equityu market
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Combine with the treasury deficit forcast and the addtional equity transaction tax, this raises speculation the government is planning to make the HKD weak and no longer purpose pump the equityu market