USD/HKD Higher; 7.7670-7.7710 Range Tipped

http://www.fxfxfx.com 2010-01-21 09:26:14

USD/HKD extends gains, tracking stronger USD offshore, says senior trader at U.S. bank; notes major U.K. bank buying aggressively. Pair last at 7.7678 vs 7.7667 yesterday. "Market participants are seeking hints from China economic data (including 4Q GDP and December CPI due later today). Any positive data will raise expectations of further tightening measures in China, prompting capital outflows," trader says. Tips pair in 7.7670-7.7710 range near term.

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