Hong Kong Resumes Currency Intervention Spree Amid Low Rates

Hong Kong’s brief pause from defending its beleaguered currency proved to be short lived, as the authorities were forced to buy local dollars for the third time in a week amid stock outflows and low local rates.

The Hong Kong Monetary Authority, the city’s de-facto central bank, bought HK$6.429 billion ($819 million) of the local currency on Tuesday, in addition to its purchases on Aug. 1 and July 30. That’s after being absent from the market for two weeks.