TIPPED: USD/HKD up on risk aversion.

The USD/HKD is higher at 7.7922 vs 7.7881 late Friday as fall in local stocks prompts risk aversion, says a senior trader at a Chinese bank; the HSI is down 2.0%. He tips the pair in a 7.7880-7.7950 band near term. "The weak equities prompted investors to shift funds back to the safe-haven U.S. dollar from the Hong Kong dollar, and I've spotted the European banks are the key buyers of the pair," the trader adds.
source:Dow Jones Newswire..