Sars leaves FX untouched

Last Wednesday (June 4) was the first day that no new deaths were reported from the virus since March 28, and the World Health Organisation declared that the outbreak has peaked.

As the virus took hold in late March and early April in Hong Kong and Singapore, and later spread to Toronto, banks quickly put contingency plans into action. The Hong Kong Monetary Authority issued guidelines to FX houses in the centre advising measures to prevent market disruption.

HSBC was one of the first to act