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Hong Kong intervenes to weaken currency

Posted on 07 December 2012

The Hong Kong Monetary Authority was forced to step into the currency markets again on Wednesday as the Hong Kong dollar hit the limit of its trading band against its US counterpart.
The city’s de facto central bank has now intervened to the tune of US$2.6bn in the past week to weaken its currency, as money from around the world continues to pour in to Asia………………………………………..Full Article: Source


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