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The Hong Kong Dollar Is On a Tear, Climbing to Two-Year High

The Hong Kong Dollar Is On a Tear, Climbing to Two-Year High

The Hong Kong dollar advanced to its strongest since June 2017 as tight liquidity in the city keeps borrowing costs elevated.

The Hong Kong dollar advanced to its strongest since June 2017 as tight liquidity in the city keeps borrowing costs elevated.

The currency rose as much as 0.19% to 7.7827 versus the greenback Thursday, days after it started trading in the strong half of its band for the first time since September. The local one-month interbank rate rose 29 basis points to 2.99% -- the highest in more than decade -- while the overnight Hibor jumped 84 basis points to 3.14%.

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