The Hong Kong dollar gave up some gains on Tuesday afternoon with consolidation setting in after the currency hit a 21-month high this week.
The local currency eased to 7.7624/26 per US dollar from 7.7615/20 in late Asia trade on Monday. It touched a session high of 7.7612 in the morning, its highest level since early December 2003.
The HK dollar has been supported over the past week by fund inflows for upcoming jumbo initial public offerings.