Lazard and Pimco profit from shorting Hong Kong dollar
Repeat interventions from HKMA fail to revive a currency under pressure from rising US rates
The rapid rise in US interest rates has roiled investments from technology stocks to cryptocurrencies. But one trade is enjoying a renaissance: shorting the Hong Kong dollar.
Lazard Asset Management, Fiduciary Management and Pimco held net short positions of US$323 million, US$110 million and US$89 million in Hong Kong dollar FX forwards, according to data gathered from regulatory filings in the
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