Latest News

Dow Jones Newswires: Hong Kong Monetary Authority sells U.S. dollars to defend currency peg

0

The Hong Kong Monetary Authority, the city’s de facto central bank, sold U.S. dollars during New York hours on Wednesday to defend the city’s longstanding currency peg to the greenback.

Asia’s currencies, including Hong Kong’s, are coming under pressure as the U.S. Federal Reserve raises interest rates more aggressively than other central banks in order to contain decades-high inflation. And that is boosting the appeal of U.S. dollar-denominated fixed-income assets.

Hong…

Some beaten-down tech stocks are now ‘outright cheap’: JP Morgan

Previous article

Keep on Buying Rivian Stock, Says Analyst After Q2 Delivery Beat

Next article

You may also like

Comments

Leave a reply

Your email address will not be published.

More in Latest News