The Hong Kong Monetary Authority (HKMA) intervened in the currency market by purchasing US dollars to curb the appreciation of the Hong Kong dollar, marking its first such intervention since 2020. This action, reported by multiple sources including Reuters and Nikkei Asia, was aimed at maintaining the stability of the Hong Kong dollar peg. The intervention involved approximately 870 billion yen, equivalent to around $6.5 billion, and represents the first currency market intervention by Hong Kong in about four and a half years. The move counters recent upward pressure on the Hong Kong dollar and reflects the HKMA's commitment to defending the currency peg amid market fluctuations.