UPDATE 1-Hong Kong dollar scores best month since 2003 as local rates hold up [Reuters]
OVERSEAS CHINSE UNSP/ADR (OVCHY)
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Source: Reuters
UPDATE 1-Hong Kong dollar scores best month since 2003 as local rates hold up * HKD gains 0.5% in March as local rates race ahead of U.S. ones * One-year interest rate gap hits two-decade high * HKD is pegged to the USD in a tight 7.75-7.85 range * Graphic: World FX rates in 2020 tmsnrt.rs/2RBWI5E (Adds chart, bullets; Updates with final HKD monthly percentage change, Stock Connect flows) By Noah Sin HONG KONG, March 31 (Reuters) - The Hong Kong dollar recorded its biggest monthly jump in more than 16 years in March, as local interest rates firmed on surging demand for cash, luring speculators to hold the currency. The HKD rose over 0.5% month-on-month, the biggest advance since September 2003 and a sizable move within its tight trading band of 7.75-7.85 per U.S. dollar. The currency reached a four-year top of 7.7510 on Friday. Hong Kong’s widening interest rate advantage over the United States was the main driver behind its currency’s gain, analysts in the city said, as the Federal R
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