A currency exchange shop in Causeway Bay in Hong Kong. Photo: EPA

Hong Kong’s dollar weakens to three-decade low, testing city’s resolve to defend currency peg

The widest gap between local borrowing cost and US interest rate is drawing traders into the carry trade, where they sell Hong Kong dollars for the greenback, putting more pressure on the exchange rate

Topic |   Currencies

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A currency exchange shop in Causeway Bay in Hong Kong. Photo: EPA
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