【明報專訊】The Hong Kong dollar exchange rate was under pressure and hit the weak-side Convertibility Undertaking of HK$7.85 to US$1. For the first time in more than three years, the Hong Kong Monetary Authority (HKMA) intervened in the market to defend the exchange rate, responding to Hong Kong dollar sell orders twice a day that were worth more than HK$5.6 billion in total.