The Hong Kong dollar held to a tight range on Tuesday despite a broad-based rally for the US dollar, while interbank rates and dollar forwards moved higher after local banks raised prime lending rates by a bigger than expected 50 basis points. After shuffling between 7.7722 and 7.7739 per US dollar throughout the day, the local currency traded at 7.7728/32, little changed from 7.7733/34 in late Asian trading on Monday.