The Hong Kong dollar recouped some early losses late on Thursday, while interbank money rates were mixed, with short dates remaining soft due to ample liquidity. The local currency weakened to 7.7574 per US dollar before recovering to 7.7555/58, firmer than 7.7569/71 in late Asian trade on Wednesday.
One trader expected the spot rate to continue to move in a range between 7.7550 and 7.7580 in the near term.
Short-dated interbank rates moved lower in the morning session as a major lender offered liquidity, one dealer at a local bank said. After that, money market rates held to narrow ranges. The overnight rate was quoted at 2.70/2.75 percent late on Thursday, after a session low of 2.50 percent, compared with Wednesday's close at 2.60/2.70 percent.
The one-week rate softened to 2.90/3.00 percent from 3.10/3.20 percent. But longer-dated interbank rates inched higher, taking a lead from firmer US bond yields overnight.
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