Hong Kong Dollar - what happend?

[Fishbird]

Was just checking interest rates and noticed that HKD dropped from 3 to 0.8 in three weeks at IB.
http://individuals.interactivebrokers.com/en/accounts/fees/monthlyInterestRates.php?ib_entity=llc
Why is that?

 

[greenday90]

Right now, all interest currency are negative .....

 

[Fishbird]

HKD interest rate has a really high vola. In January and February too it dropped more than 50% and went back up again.

Is there an instrument to trade this?

 

[Ari2.0]

Interest rate futures...or FX Forwards. Not sure what if you're retail or work with an institution, but if you're retail try futures, if you're work with an institution...forwards. I'll spare you the mathematics but essentially it's interest rate differentials between competiting countries. Hope this helps.