USD to HKD pair trading
The USD to HKD pair is a cross currency pair made up of the United States dollar and the Hong Kong dollar. The USD is the number one traded currency around the world, partly due to the US’ position as a global powerhouse when it comes to international trade and partly because of the USD’s status as the planet’s primary reserve currency.
The USD to HKD rate is determined by a linked exchange rate system, which has been in place since 1983 and allows the HKD to range between 7.75 to 7.85 per one USD. That range is set by the Hong Kong Monetary Authority, which can vary either the linked currency or the value band of the HKD in relation to that foreign currency.
The idea behind this system – known as a ‘peg’ – is to “reduce the foreign exchange risk faced by importers, exporters and international investors”.
USD to HKD news
Goods and services trade between the two countries totalled almost $70 billion in 2018, with Hong Kong representing the United States’ 10th largest goods export market during that period. Some of the two nations’ most often traded commodities are electrical machinery, precious metal and stone and plastics, so traders may want to consider tracking those industries when monitoring the performance of the USD to HKD rate.
Political factors could also be worth considering when it comes to USD to HKD news, as protests in Hong Kong have seen a decline in the country’s tourism trade, which may have a knock-on effect for the HKD and see its value fall to the lower end of the band set by the HKMA.
USD to HKD chart
Our USD to HKD chart gives you the opportunity to implement real-time tracking of this forex pair. Additionally, current or prospective traders will be able to monitor the USD to HKD rate over a monthly, weekly, daily or even hourly timescale. Such functionality could offer potentially telling insights into any developing trends, but it should be noted that our USD to HKD chart should not be taken as a guarantee of any future performance of this cross currency pair.