HKMA moves to weaken Hong Kong dollar rate

The Hong Kong Monetary Authority continued selling HK dollars on Wednesday and buying about US$100 million. The move further weakened the HK dollar against the US dollar which was already declining following two sales earlier this week.

Source: Dow Jones

The Hong Kong Monetary Authority on Wednesday again sold Hong Kong dollars, and bought U.S. dollars, giving fresh impetus to the weakening of the Hong Kong dollar's exchange rate, already under way after its sales earlier this week.

In its late