However, analysts say such a measure was unlikely owing to the upheaval it would cause to global markets. FMTNews
HONG KONG: White House aides are considering undermining the Hong Kong dollar’s peg to the greenback as part of efforts to punish China over its new security law in the city, a report said Wednesday.
However, it cited unnamed sources as saying the move had not been discussed at senior levels of the Trump administration, while analysts said such a measure was unlikely owing to the upheaval it would cause to global markets. The city’s dollar was linked to the greenback in 1983 in a bid to prevent a sell-off as it wobbled over fears about China’s reunification talks with Britain.
The HKMA, the de facto central bank, has in recent months had to sell billions worth of local dollars to maintain that link, as cash floods into the city to take advantage of its relatively high interest rates.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Chinese envoy accuses UK of 'gross interference' over Hong KongBritish PM Boris Johnson has spoken of the need to 'stick up for our friends in Hong Kong'. FMTNews
Read more »
Democracy activist Joshua Wong says world must 'stand with Hong Kong'Former student leader has steadfastly remained in the city, where he faces ongoing prosecutions over last year's protests. FMTNews JoshuaWong
Read more »
Democracy activist Joshua Wong says world must 'stand with Hong Kong' | New Straits TimesHONG KONG: The world must stand in solidarity with Hong Kongers after Beijing imposed a sweeping national security law on the semi-autonomous city, activist Joshua Wong said Monday, vowing to continue campaigning for democracy.
Read more »
Hong Kong court denies bail to first person charged under new lawThis comes after he carried a sign saying 'Liberate Hong Kong' and drove his motorbike into police.
Read more »
Hong Kong stocks end with more big gains | Malay MailHONG KONG, July 6 — Hong Kong stocks soared again Monday, tracking a surge in mainland Chinese markets and extending a rally into a fourth day on hopes for the economic recovery from the coronavirus. The Hang Seng Index rose 3.81 per cent, or 966.04 points, to 26,339.16. — AFP
Read more »
Democracy activist Joshua Wong says world must ‘stand with Hong Kong’ | Malay MailHONG KONG, July 6 — The world must stand in solidarity with Hong Kongers after Beijing imposed a sweeping national security law on the semi-autonomous city, activist Joshua Wong said today, vowing to continue campaigning for democracy. Wong, one of the city’s most prominent young activists and...
Read more »