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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 414.48

+0.7%

Jan 9 4:00 PM EST

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To: TobagoJack who wrote (97044)	12/11/2012 9:50:42 AM
From: elmatador	Read Replies (1) of 219231

Hot money inflow. HK CB has already bought US$7 billion by selling the same amount of Hong Kong dollars since mid-October, Chan said on the sidelines of an economic forum. The authority's move was aimed at weakening the local currency. The Hong Kong dollar is pegged to the US dollar and must trade within a range of HK$7.75 and HK$7.85 to the greenback. The HKMA sells the Hong Kong dollar when the exchange rate appreciates to the upper limit of HK$7.75 and buys the local unit to support it when it dips to the lower limit. scmp.com

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