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Hong Kong dollar HKD forecasts for 2020

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Forecasts and predictions for the Hong Kong dollar change all the time, affected by news events and relative sentiment towards the HK economy. This continually updated article reviews HKD bank forecasts and popular cross-rate trends.

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Japanese yen forecast

HKD in the markets

Earlier in the year the threat of proxy war between the US and Iran in Ira helped bring on gains in the Japanese yen and US dollar plus currencies pegged to the greenback such as the Hong Kong dollar.

NAB told Bloomberg TV that it sees a recovery in Asian currencies in the 2nd half of the year if the coronavirus comes under control.

USD/HKD – 6 month trend

HKD forecasts

Scotiabank admitted defeat in April when it said that USD, and therefore HKD, was likely to be “stronger for longer.” It had long held a bearish view on both currencies.

HSBC said in May to expect higher HKD values relative to the Australian dollar and New Zealand dollar, and against riskier emerging market currencies.

In May, HSBC warned against thinking that USD, and therefore HKD, had gotten too high. The bank highlighted the “desolation and destruction” (an exaggeration) facing other economies, and the lack of value-maintaining currency alternatives.

Hong Kong dollar – Historical Rates

PeriodChange*USD/HKDDate
7 Day0%7.752031 Mar 2020
30 Day-0.2%7.769808 Mar 2020
3 Month-0.3%7.775808 Jan 2020
1 Year-1.2%7.847408 Apr 2019
5 Year0%7.750409 Apr 2015
10 Year-0.1%7.757210 Apr 2010

*For period to 07-Apr 21UTC when USD/HKD was 7.7524

 

You can also read our full Foreign Exchange Guide to Hong Kong.

 

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