«US Dollar vs Hong Kong Dollar» or «USDHKD»
USD/HKD is a popular currency pair on Forex. The rate of this financial instrument depends considerably on the US economic situation. For this reason, a trader should primarily focus on the economic indicators of the United States of America. At the moment the rate of the Hong Kong dollar is pegged to the US dollar. This financial instrument trading is carried in the range 7.75-7.85 HKD per USD.
Hong Kong has one of the largest stock exchanges. On many indicators Hong Kong Stock Exchange (SEHK) leaves behind a number of major European and American stock exchanges. Nowadays, Hong Kong is one of the world's leading financial centers.
Hong Kong's economy is based on the principle of free market, low taxation, and the policy of neutrality, as the government does not interfere in the region's economy. There are insufficient mineral and food resources in the region, for this reason its economy is heavily dependent on these factors. The majority of Hong Kong's income is received from service industries, as well as re-exports from China. In addition, the tourism sector is well developed.
If you trade with currency pair USD/HKD, you need to pay attention to the behavior of the other most important trading instruments such as: EUR/USD, GBP/USD, and USD/JPY. These trading instruments are indicators of price movement of USD/HKD, since they greatly influence on the rate of national currency of Hong Kong Special Administrative Region.