Pound Hong Kong Dollar forecast - GBP HKD

Despite a lack of impressive new Eurozone data today, the British Pound to Euro (GBP/EUR) exchange rate has kept falling. Brexit uncertainties kept pressure on the Pound, while the Euro is still benefitting from market hopes that the Eurozone economy is gradually turning around from the slowdown seen since the end of last year. A...

Hong Kong's Financial Secretary John Tsang delivered the annual budget address yesterday, giving cause for optimism regarding the economic situation. He announced that Hong Kong’s economy had expanded by 6.8% last year, largely due to its strong links with China and predicted that GDP would expand by a healthy 4-5% in 2011. Much of the...

The Chinese Yuan made gains during yesterday’s overnight session after the Chinese Government set their US Dollar/Yuan parity rate at a record low of 6.5800. This caused broad support for the Hong Kong Dollar as traders continued to use it as a proxy for the state-controlled Yuan. The HK Dollar rallied from 12.60 to touch 12.50 against...

The Hong Kong stock market suffered a major sell-off last night, losing 1.97% to close 455 points down on the day. This poor performance was driven by yesterday’s interest rate hike in China which was the second time in six weeks that the Chinese Central Bank has opted to raise. Speculation abounds in Asia that the Chinese rate hike will...