• CoinDesk

    Team Behind Offshore Yuan, Hong Kong Dollar Stablecoins Detained by Chinese Police: Report

    Earlier this year KuCoin closed a $10 million funding round into CNHC.

  • Reuters

    UPDATE 1-Hong Kong interbank rates jump, pull HKD off band extreme

    Hong Kong interbank rates jumped on Wednesday as a further decline in banking system cash balances spurred expectations of tightening monetary settings and to an unwinding of short positions in the pegged Hong Kong dollar. The overnight Hong Kong Interbank Offered Rate shot up nearly 92 basis points to 4.4381%, its highest since December 2019. The Hong Kong dollar rose to its strongest since the middle of February at 7.8325 per U.S. dollar.

  • Reuters

    UPDATE 1-Improbable bets on break of Hong Kong dollar peg adding up

    It's what is known in the markets as a "tail risk": a highly unlikely scenario in which Hong Kong's currency peg suddenly snaps. Billionaire money manager Bill Ackman went public last month with his wager that the days of the Hong Kong dollar's 39-year-old peg to the U.S. dollar are numbered. Ripples in the derivatives market imply he is not alone, as "macro" trading - or betting on big global shifts - swings back into vogue and the prospect of reaping a huge reward for relatively little risk revives a perennially unsuccessful trade.

  • Reuters

    Improbable bets on break of Hong Kong dollar peg adding up

    SINGAPORE/HONG KONG (Reuters) -It's what is known in the markets as a "tail risk": a highly unlikely scenario in which Hong Kong's currency peg suddenly snaps. Billionaire money manager Bill Ackman went public last month with his wager that the days of the Hong Kong dollar's 39-year-old peg to the U.S. dollar are numbered. Ripples in the derivatives market imply he is not alone, as "macro" trading - or betting on big global shifts - swings back into vogue and the prospect of reaping a huge reward for relatively little risk revives a perennially unsuccessful trade.

  • Reuters

    CORRECTED-Improbable bets on break of Hong Kong dollar peg adding up

    It's what is known in the markets as a "tail risk": a highly unlikely scenario in which Hong Kong's currency peg suddenly snaps. Billionaire money manager Bill Ackman went public last month with his wager that the days of the Hong Kong dollar's 39-year-old peg to the U.S. dollar are numbered. Ripples in the derivatives market imply he is not alone, as "macro" trading - or betting on big global shifts - swings back into vogue and the prospect of reaping a huge reward for relatively little risk revives a perennially unsuccessful trade.

  • Business Insider

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

    The billionaire investor said that Federal Reserve interest rate rises will break the currency's peg with the US dollar as it "no longer makes sense."

  • Investing.com

    Bill Ackman reveals 'large' short position against Hong Kong dollar

    By Ambar Warrick