The Hong Kong dollar ticked higher against the US currency on Friday morning as some players continued to adjust their positions in the wake of volatile trade earlier this week.
The local unit was trading at 7.7937/40 per US dollar after shuffling between 7.7924 and 7.7945, and slightly firmer than 7.7948/51 in late Asian trade on Thursday.
"The market is still struggling after a sharp move on Wednesday. Some dollar-selling appeared at above HK$7.7950 in recent sessions, while the spot rate was supported at around HK$7.7880 amid corporate demand," one trader said.
The Hong Kong dollar strengthened sharply on Wednesday afternoon on the back of a share placement by China Telecom.
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