| Speculation is mounting that the Hong Kong dollar’s 32-year-old peg to the greenback will end as tightening U.S. monetary policy and an economic slump in China put the link under pressure. The city’s currency on Friday fell to a four-year low as concern about China’s economy fueled a selloff in the nation’s stock market.
The Hong Kong Monetary Authority a day earlier reaffirmed its commitment to the existing exchange-rate mechanism, while Chief Executive Norman Chan said last month the local dollar’s peg is the cornerstone of financial and monetary stability in the city and there are no plans to amend it...............................................Full Article: Source
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