HONG KONG -- Interest rates in Hong Kong have fallen despite a monetary mechanism that pegs the city's currency to the U.S. dollar, as investors shun carry trades amid declining confidence in the greenback.
Global volatility is keeping investors away from carry trades
Hong Kong financial authorities have welcomed lower interest rates by taking a hands-off approach. © Reuters
HONG KONG -- Interest rates in Hong Kong have fallen despite a monetary mechanism that pegs the city's currency to the U.S. dollar, as investors shun carry trades amid declining confidence in the greenback.