The Hong Kong Dollar is pegged to the USD. There is gathering momentum in the belief that the HKD has to de-peg from the USD. At the moment there is a major divergence in the two: I interpret this as 1) a persistent strength in HKD 2) investors do not believe the DXy gains are sustainable. When DXY reverses is when we see HKD break to the downside which HKMA has to throw in the tower.