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Currencies

Short sellers target Hong Kong dollar: Five things to know

Hedge fund billionaire Ackman among investors betting on U.S. dollar peg crash

American billionaire investor Bill Ackman thinks the Hong Kong dollar's peg to the U.S. currency cannot last forever. (Source photo by Reuters)    © Reuters

HONG KONG -- Billionaire hedge fund investor Bill Ackman has added his name to a list of prominent short-sellers betting against the Hong Kong dollar.

The American thinks the currency's peg to the U.S. dollar will crumble, triggering a plunge in its value.  Ackman, founder of Pershing Square Capital Management, explained his view in a brief tweet last week: "The peg no longer makes sense for Hong Kong and it is only a matter of time before it breaks."

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