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HKMA has intervened in the FX market

Started by forex4you, May 12, 2022, 04:46 am

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forex4you

May 12, 2022, 04:46 am
HKMA has intervened in the FX market

The Hong Kong Monetary Authority acts as Hong Kong's central bank. It has intervened to buy HKD against the USD to defend its currency peg. Fir the first time since 2019.
This is a chart going back many years, you can see the levels the HKMA defend:


   


The USD has been rampantly rising pretty much against everything. HKD is no exception. The HK|MA has been VERY successful defending the peg. Be very careful if you believe 'this time its different'. The graveyard is full of people with that chiselled on the headstone.

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