The Hong Kong dollar has been pegged to the US dollar since 1983 and trades in a tight band against the American currency. Photo: Reuters
The Hong Kong dollar has been pegged to the US dollar since 1983 and trades in a tight band against the American currency. Photo: Reuters

Bill Ackman says Pershing hedge fund is shorting the Hong Kong dollar in bet currency peg will break under US-China decoupling pressure

  • US hedge fund Pershing owns a ‘large notional position’ in Hong Kong dollar put options
  • The resurgent Hong Kong dollar moved closer to the stronger half of its trading band earlier this week