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3Novices:Hong Kong dollar is Asia’s worst-performing currency as Chinese yuan stabilises

The Hong Kong dollar has weakened modestly this year even as the yuan has been stabilising and other Asian currencies rallied, but its softness reflects a flushed banking system rather than signs of economic weakness in the city, analysts say.
Ample liquidity conditions are proving to be an anchor for Hong Kong’s short-term interest rates such as the three-month Hong Kong interbank offerered rate, causing it to drop about 15 basis points this year.
In contrast, expectations that the US…
April 21, 2017 at 02:37PM http://ift.tt/2owSFIG
#3Novices #News #OnlineMedia #China 3Novices China

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