Convert GBP to HKD
Because the HKD trades within a narrow range, the GBP/HKD currency pair offers limited opportunities for forex traders to generate profits. Most HKD pairs are typically beneficial as part of carry trade strategies.
Owing to its peg, the HKD experiences very little movement on the release of important economic data from Hong Kong, including GDP and inflation. On the other hand, the GBP experiences considerable fluctuation on the release of economic data from Britain, such as GDP, inflation, unemployment rate, retail sales, business sentiment, trade balance and industrial production.
Over the past few years, the value of the GBP has been heavily influenced by developments related to Brexit - sometimes to a greater extent than even economic data releases. Any positive development on the Brexit front serves to strengthen the GBP, driving this pair bullish, while any talk of no-deal Brexit sends investors away from the Pound Sterling, causing this currency pair to trade bearish.