May 12, 2025

Hong Kong Defends Currency Peg, Bitcoin Pumps Back to $97K, US-China Trade Talks

Tuesday, the Hong Kong Monetary Authority (HKMA) intervened in the foreign exchange market, selling HKD 73.3 billion (approximately $9.4 billion) to defend the Hong Kong dollar’s peg to the U.S. dollar. This move came after sharp volatility in regional …

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