That was the founder and Chief Executive Officer of Pershing Square, Bill Ackman, who tweeted Wednesday that his hedge fund has “a large notional short position against the Hong Kong dollar” via put options.
“Ackman... “The peg no longer makes sense for Hong Kong and it is only a matter of time before it breaks.” Ackman was tweeting a Bloomberg opinion column that discussed pressure on the Hong Kong currency USDHKD to keep in the circa 2005 band of HK$7.75 to HK$7.85 per U.S. dollar. Hong Kong’s economy has struggled this year and even more recently owing to its ties to China, where COVID-19 lockdowns have weighed on the economy. Aggressively defending its peg this year, the government has spent a reported HK$241.2 billion in 40 interventions for 2022.
He’s being saying for a decade, no?
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