Currency traders in Hong Kong stayed on the sidelines yesterday in anticipation of the outcome of the Asian central bankers meeting in Shanghai.
Elsewhere in the region, Southeast Asian currencies steadied as speculators refrained from further attacks to study the results of the meeting.
The Singapore dollar ended firmer at 1.4675 to the US dollar, the Malaysian ringgit closed barely changed at 2.6493, the Indonesian rupiah ended weaker at 2,613.50, the Thai baht closed up at 31.82 and the Philippine peso closed just 0.1 per cent lower at 28.50 to the US unit.
Hong Kong's money markets remained relatively quiet after a hectic trading session on Thursday, with the currency firm although long-term interest rates continued to rise.
The Hong Kong dollar finished the day at about $7.74 to the US dollar, off slightly from a high of $7.736 in New York trading on Thursday night.
Traders said attention was focused on the Shanghai meeting, although there was still significant interest in how the SAR currency would be traded in London and New York after Hong Kong trading closed.
