Analysis of recent Dollar → Hong Kong dollar forecasts for 2024. We collate forecasts from respected FX analysts together with the latest US dollar to Hong Kong dollar performance and trends.
Forecasts for USD to HKD
According to recent exchange rate analyst forecasts and currency market updates, the USD to HKD exchange rate is currently hovering near 14-day lows around 7.8204, in line with its 3-month average, after trading in a relatively stable range between 7.7954 and 7.8292. FX analysts anticipate that the US Dollar (USD) may continue to gain strength against the Hong Kong Dollar (HKD) in the near term due to the robust performance of the US economy, marked by strong job reports and inflation pressures. The unexpected acceleration of inflation in the US has led to a rally in the USD, with markets now postponing expectations for potential rate cuts by the Federal Reserve. Given the current market dynamics and the delay in anticipated rate cuts, the USD is predicted to remain resilient against riskier peers, including the HKD.
On the other hand, the HKD is expected to face some challenges in maintaining its strength against the USD. While the Hong Kong Monetary Authority (HKMA) has kept interest rates steady and introduced supportive measures for the local property market, concerns persist regarding the city's economic outlook and the impact of external factors, such as the Fed's stance on interest rates. Despite initial stability in February, the HKD showed a downward trend towards the end of the month, reflecting uncertainties surrounding the local economy. The future strength of the HKD is likely to be influenced by factors such as local economic recovery and any dovish signals from the Federal Reserve regarding its interest rate path, which could further impact the USD to HKD exchange rate in the coming months.
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Date
USD/HKD
Change
Period
04 Mar 2024
7.8248
0.1% ▼
2 Week
19 Dec 2023
7.7999
0.3% ▲
3 Month
19 Mar 2023
7.8490
0.4% ▼
1 Year
20 Mar 2019
7.8495
0.4% ▼
5 Year
21 Mar 2014
7.7592
0.8% ▲
10 Year
23 Mar 2004
7.7949
0.3% ▲
20 Year
USD/HKD historic rates & change to 18-Mar-2024
Will the US dollar rise against the Hong Kong dollar?
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Read our Currency guide to Hong Kong - a practical currency and money guide to travel, living and doing business in Hong Kong with the Hong Kong dollar.
Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more