# hong kong flooding

Hong Kong’s FX peg – A storm in a teacup. » Every time, the Hong Kong Monetary Authority, the city’s de-facto central bank – whose FX management is far more consistent than its investment performance for managing the exchange fund -- wades into the markets to defend a three-decade long FX peg, it prompts a wave of articles on how its monetary Linkedin.com

President Trump Signs Into Law the Hong Kong Autonomy Act » On July 14, 2020, President Trump signed into law the Hong Kong Autonomy Act  (“HKAA”) providing for the imposition of sanctions on foreign persons who materially contribute to the undermining of Hong Kong’s autonomy by the Government of the People’s Republic of China (“PRC”) and foreign financial institutions who engage in significant transactions with such Sanctionsnews.bakermckenzie.com

Euro will weather the storm, says Natixis economist - FX Markets » Germany will not allow the euro to fail, which is why the currency is performing better than expected, according to Asia economist at Natixis Fx-markets.com

Outflows Pressure Sees Chinese Yuan Slip to Seven Month Lows » Yuan drops to 7.26 to the US dollar, amid a flood of cash from the mainland to Hong Kong, while foreign equity investors have also withdrawn $4.5bn this month Asiafinancial.com

Asia braces for unwanted, but unavoidable FX battle: McGeever » Asian countries probably don't want it and they certainly didn't cause it, but a 'beggar thy neighbor' wave of exchange rate depreciation may be about to hit the continent. Reuters.com

Tania Chen - Bloomberg » Recent stories by Tania Chen on Bloomberg.com Bloomberg.com

The e-CNY will not help the yuan displace the dollar any time soon » The digital yuan promises China a sanctions-proof payments system and more power to monitor international transactions. François Chimits does not expect a flood of foreign users.    The People’s Bank of China (PBoC) has pledged to “explore the improvement of cross-border payments” with the country’s nascent digital currency, causing some alarm in the West that the e-CNY may revive the flagging internationalization of the yuan. The country’s central bank has launched pilots with Hong Kong, Thailand and the United Arab Emirates, its commercial banks have promised infrastructure and Xi Jinping likes to talk about international partners. But the e-CNY will not remove the obstacles hindering the yuan from challenging the dollar – and new features it brings to international transactions look set to deter many users. The internationalization of the yuan has stalled in recent years (see Exhibit 1) and even Chinese experts say that a currency becomes useful beyond its borders only if it can meet three c Merics.org