According to China News Service, citing the Hong Kong Economic Daily, the Hong Kong Monetary Authority invested another HK$60.543 billion on the 6th, breaking the record once again . Due to the weakness of the US dollar, the Hong Kong dollar exchange rate hits the top 7.75 per dollar for a long time. According to the contact exchange rate mechanism, the Hong Kong Monetary Authority will take up another US$7.812 billion after the closing of the US stock market, and the balance of the banking system will rise to HK$161.384 billion.

According to the report, since the U.S. stock market closed last Friday, due to the strong exchange guarantee, the Hong Kong Monetary Authority has begun to undertake US dollar sell-offs, injecting HK$46.539 billion into the market. Together with the HK$9.532 billion injected by the HK$9.532 billion injected by the HK$116.614 billion in the Asian trading period yesterday, the three-time cash received a total of HK$116.614 billion .

According to the linked exchange rate system, there is a normal floating range between the Hong Kong dollar and the US dollar: 7.75 (strong party exchange guarantee) to 7.85 (weak party exchange guarantee). If the Hong Kong dollar exchange rate triggers the strong party exchange guarantee, the Hong Kong Monetary Authority will buy US dollars and sell Hong Kong dollars, stabilizing the Hong Kong exchange rate to a level not higher than 7.75; if the Hong Kong dollar exchange rate triggers the weak party exchange rate, perform reverse operations to stabilize the Hong Kong exchange rate to a level not lower than 7.85.

A spokesperson for the HKMA said that the recent strong Hong Kong dollar is mainly due to the increase in demand for Hong Kong dollars related to stock investment, which supports the Hong Kong dollar exchange rate. The HKMA will continue to pay close attention to market trends and ensure the orderly operation of the Hong Kong dollar market.

The day before, the US dollar index plunged rapidly and fell below the 100 mark again. Asian currencies generally appreciated, and the offshore RMB once rose above 7.19 to a new high in the past six months. On May 6, the US dollar index rose and fell back. As of press time, the US dollar index was 99.8634, up 0.07%.

Although the US employment data in April was stronger than market expectations, the market still believes that the Fed will cut interest rates by 3-4 times this year. Some Wall Street investment institutions choose to prepare for the future - first increase their holdings of non-US currencies such as the RMB and the Japanese yen to cope with the uncertainty risk of the Federal Reserve's interest rate cut in June.

Ulrich Leuchtmann, an analyst at Commerzbank, said the dollar could fall over a long period of time as Trump's policy portfolio has no checks and balances; Trump's recent remarks pose an implicit threat to Fed independence "just one of several channels where the dollar may weaken."

On May 7 local time, the Federal Reserve will announce the latest interest rate resolution. The market is currently unanimously expecting that the Federal Reserve will remain silent. According to CME's "Federal Observation", the probability of the Fed's interest rate unchanged in May is 97.3%.

Roberto Mialich, a foreign exchange analyst at UC Bank, said in a note that the Fed's decision to keep interest rates unchanged is unlikely to provide too much support for the dollar. Fed Chairman Powell made it clear in a speech last month that the central bank will wait for a clearer message on how tariffs will affect the economy and inflation. The dollar index remains weak, and the options market still shows investors tend to bet on the dollar's decline rather than rise.

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