Bill Ackman bets Hong Kong dollar peg can break By Reuters

© Reuters. FILE PHOTO: A Hong Kong dollar note is seen in this illustration photo May 31, 2017. REUTERS/Thomas White/Illustration

SINGAPORE (Reuters) – Billionaire investor Bill Ackman said he’s betting the Hong Kong dollar can fall and said it’s matter of time before its peg to the U.S. dollar breaks.

“We have a large notional short position against the Hong Kong dollar through the ownership of put options,” he said on Twitter. “The peg no longer makes sense for Hong Kong.”

The Hong Kong dollar is pegged in a tight band between 7.75 and 7.85 per dollar and was last at 7.8178 per dollar.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *