this is CNY to US$ this is HKD to US$
while below are the log differenced of both graph above
you can see tha apparent similarity on the mid of graph
i thought that they were managed by different entity as CNY are managed by People Bank of China (PBC, Central Bank of China) and HKD by Hongkong Monetary Authority CNY exch rate is a
while HKD is
1. were the similarity induced by the same response to the same crisis?
2. or is it only coincidence?
3. or was it coordinated between financial authority in China and Hongkong?
4. or the way of how HK pegged HKD similar to the way how China managed float on CNY?
5. what are the implication of it?