The HKMA intervened in the Hong Kong Dollar last week

FXStreet (Bali) - The Hong Kong Monetary Authority has been recently intervening in the HK Dollar, buying over $1.7 billion during the Hong Kong day on Friday at the upper limit of HK$7.75/USD, with an additional $1.46 billion bought during Friday's New York hours.

The intervention on Friday follows additional purchases of $400 million on Thursday. The HKMA pegged its currency to the U.S. dollar in 1983, with an allowed maximum range from HK$7.85 to HK$7.75.