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| | | Global Markets Daily
by Saktiandi Supaat |
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| | | HKD jumped this morning in response to HKMA's bill sale plan that will withdraw liquidity from financial system. HKMA will sell an additional HK$40bn of exchange fund bills to meet strong demand by banks for liquidity management. This could be attempt to slow HKD's pace of depreciation as a similar issuance was conducted in mid-Aug when USDHKD was trading towards multi-year high of 7.8262. USDHKD traded to intra-day low of below 7.80 (vs. 7.8259 high in early-Sep). | |
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