Amid fluctuations, the US Dollar to Hong Kong Dollar (USD/HKD) exchange rate recently tested the upper bounds of the 7.75-7.85 trading band. Following significant intervention by the Hong Kong Monetary Authority, the pair has weakened considerably, reaching a one-year low of 7.83. UBS sees this as a prime opportunity for traders seeking to capitalize on the carry trade. Investors should look for chances to buy USD/HKD if prices slide towards 7.75 again, thus reinforcing the peg.