Earlier news (via Bloomberg) that Hong Kong Monetary Authority (HKMA) intervened in the HK dollar market

Post: Intervention in the HK dollar - HKMA sells USD, defends peg

  • The HKD had fallen to the low end of its permitted trading band

Comments now from HKMA deputy chief executive Howard Lee:

  • HKMA is prepared to deal with capital outflows
  • HK banking system has ample liquidity
  • Expects interest rates to rise incrementally