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Activist investor Bill Ackman is shorting the Hong Kong dollar
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Bill Ackman, the activist investor, said his hedge fund Pershing Square has built a short position on the Hong Kong dollar.
He's betting the peg to the US dollar will break. The Hong Kong Monetary Authority (HKMA) intervenes in foreign exchange markets to keep the Hong Kong dollar trading between 7.75 to 7.85 against its American counterpart.
That...
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