Spread

USD/HKD

Hourly spread (pips)

For USD/HKD, the average spread in pre-COVID market conditions is about five times the average spread in recent market conditions.
In the recent market conditions, the average spread for USD/HKD is highest around Sydney open. This is similar to pre-COVID market conditions.
For USD/HKD, we observe a flattening of the recent spread curve at around 16:00 GMT i.e. London fixing hour, with spread being more equally distributed across London trading hours during this recent period.
In the recent period, the spread has generally tightened, relative to the COVID peak period.