The Hong Kong dollar was trapped in a narrow range against the greenback on Tuesday, while interbank rates rose ahead of a Federal Reserve meeting on speculation that it would signal a quicker pace of future rate rises. After shuffling between 7.7990 and 7.7997 per US dollar, the local currency traded at 7.7993/94 little changed from 7.7991/92 in late Asian trade on Monday.
The US Federal Reserve's Open Market Committee (FOMC) is due to meet later in the day, and it is widely expected to raise the fed funds rate for the seventh consecutive time by 25 basis points to 2.75 percent.
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