The Hong Kong dollar yesterday stayed relatively weak on outflows of foreign capital, as investors took profits on the territory's stock market.
The currency hit a day's low of $7.75 to the US dollar before closing at $7.7493.
Treasurer for Hong Kong at the Commonwealth Bank of Australia Andrew Fung said there had been no intervention from the Hong Kong Monetary Authority.
Mr Fung said that, in the past, any movement of the currency beyond the $7.740 level would trigger intervention from the authority.
'The authority has demonstrated it is very comfortable with the Hong Kong dollar this time and is prepared to tolerate higher volatility in the currency then it had been before,' he said.
Mr Fung considered the outflow of foreign capital an 'understandable' move after the 12-month rally in the territory's stock market.
