The Hong Kong dollar was trapped in a narrow range against the US dollar on Thursday in thin pre-holiday trade. One dealer at a European bank said the market spent the day within a 10-tick range with little direction and he had not seen any major flows.
"Trading is expected to be quiet and rangebound tomorrow ahead of a long holiday," the dealer said. Hong Kong financial markets will be closed on January 26 to 28 for the Lunar New Year holiday. The local currency was at 7.7593/94 against the US dollar, little changed from late Wednesday trade in Asia, after shuffling between 7.7590 and 7.7595.
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