HOME     Currency exchange     Exchange rate trend graph     RMB exchange rate query  
     
  USD Rate EUR Rate AUD Rate JPY Rate GBP Rate CAD Rate   NZD Rate RMB Rate
 

HK Dollar Up Late On Profit Taking; Local Stocks A Key Driver

Asia-Pacific exchange net America 2010-01-26 17:17:12

Latest Change USD/HKD Spot 7.7706 -0.0016 1-year USD/HKD Forward* -163 +1 Overnight Hibor 0.06% -20 bps 1-month Hibor 0.06% -20 bps 3-month Hibor 0.13% +1 bp 1-year Hibor 0.43% +1 bp 2-year EF Note 0.49% -2 bps 10-year EF Note 2.79% -2 bps
*mid-point of bid-offer spread
HONG KONG (Dow Jones)--The Hong Kong dollar rose against the U.S. dollar late Tuesday, as investors took profit in the U.S. unit after it rose for nine consecutive sessions.
However, potential monetary tightening in China and, as a result, weakening equities will remain a major concern for investors, traders said. Some investors resumed buying the U.S. dollar for safety Tuesday afternoon, erasing some the Hong Kong dollar's gains.
In late Asian trade, the U.S. dollar was at HK$7.7706, down from HK$7.7722 late Monday but up from an intraday low of HK$7.7656. The U.S. unit was fixed at HK$7.7677 earlier Tuesday.
'The drop in local stocks and lingering worries about China's tightening will continue to cause capital to flow out of Hong Kong and support the U.S. unit,' a trader at a U.K. bank said.
The trader said the Hong Kong stock market will remain 'the key driver' of the local currency in the near future, adding the U.S. dollar will likely trade between HK$7.7680 and HK$7.7750 the rest of this week.
Hong Kong's benchmark Hang Seng Index ended down 2.4% at 20,109.33, a four-and-a-half-month low.
'I believe the recent rise in the U.S. dollar (against the Hong Kong dollar) is set to persist. Flows from mainland China are moderating, and flows into Hong Kong and China assets are also likely to remain under short-term pressure as China's tightening process gathers steam,' a trader at another U.K. bank said.
The one-year U.S. dollar/Hong Kong dollar forward contract was quoted at a discount of 163 points to the spot rate, compared with a 164-point discount late Monday.
Keywords:HKDollar
    Google
     
Latest
  • HK Dollar Up Late On Profit Taking; Local Stoc...
  • China Yuan Stays Flat On Lack Of Flows, Stable...
  • China Yuan Stays Flat On Lack Of Flows, Stable...
  • Bank of China, January 26, 2010 the RMB exchan...
  • Bank of China, January 26, 2010 Hong Kong doll...
  • Taiwan Shares Set To Fall; US Cue, China Conce...
  • USD/CNY May Fall; 6.8250-6.8270 Range Eyed
  • January 21, 2010 the RMB exchange rate
  • China Government: Concerned About Rapid Rise I...
  • China Reiterates Current Fiscal, Monetary Poli...
  • Related
  • HK Dollar Up Late On Profit Taking; Local Stoc...
  • rmb New Zealand dollar exchange rate January 2...
  • Australian dollar exchange rate January 21, 20...
  • The Canadian dollar against the RMB exchange r...
  • U.S. dollar against the RMB exchange rate Janu...
  • New Zealand Dollar Exchange Rate January 21, 2...
  • Canadian dollar exchange rate January 21, 2010
  • Australian Dollar Exchange Rate January 21, 20...
  • January 20, 2010 New Zealand Dollar Exchange R...
  • January 20, 2010 the Canadian dollar exchange ...
  • Advertising | Product Service | About Us | Careers | Contact Us | Partners | Disclaimer | Site Map
    Foreign exchange risk, the investment need to be cautious!
    Partners: 亚太外汇网
    Copyright(C) 2009 FXFXFX.COM All rights reserved.  Asia-Pacific exchange net America shanghai ICP 08100252