• Billionaire investor Bill Ackman is shorting the Hong Kong dollar in a bet it'll lose its peg to the greenback

    6 days ago - By Business Insider

    Bill Ackman is betting against the Hong Kong dollar. Sylvain Gaboury/Getty Images
    Bill Ackman said on Wednesday that he's betting against the Hong Kong dollar.
    The billionaire investor thinks the Fed's rate rises will break the currency's peg to the dollar.
    "The peg no longer makes sense for Hong Kong and it is only a matter of time before it breaks."
    Bill Ackman is shorting the Hong Kong dollar in a bet it will eventually break its peg to the US dollar as the Federal Reserve's tightening campaign continues. "We have a large notional short position against the Hong Kong dollar through the...
    Read more ...