HKD can be a reserve currency candidate – ANZ HongKongSAR Currencies China Banks
Since 1983, there have been many calls for Hong Kong to change its HKD peg. Economists at ANZ Bank analyze HKD amid de-dollarisation.“The decline in the HKD aggregate balance is unlikely to cause market panic. Once the HIBOR-LIBOR gap narrows, HKD outflow pressures will be alleviated. The HKD peg to the USD is defended via changes in the cost of carry.”
“The HKD peg is akin to a ‘stable coin’ as its value is tied to a reference asset. Blockchain technology and the tokenisation of government If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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