The Hong Kong dollar drifted lower on Thursday as investors bought the US currency on heightened speculation of aggressive interest rate rises in the United States, dealers said.
The Hong Kong unit weakened to a three-week low of 7.7985 per US dollar in late afternoon before pulling back to 7.7976/78 down from 7.7951/52 in late Asia trade on Wednesday. The local currency is pegged at HK $7.80 to the greenback.