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3Novices:Hong Kong’s crowded currency trade enters perilous territory

One of the world’s most reliable currency bets is suddenly looking like less of a sure thing.
The Hong Kong dollar carry trade, which has produced steady returns for seven straight months, suffered a rare setback on Wednesday as the currency abruptly strengthened the most since February 2016. Its 0.1 per cent gain against the U.S. dollar may have been tiny by global standards, but it jolted investors who had positioned for declines by borrowing in Hong Kong to invest in higher-yielding…
August 10, 2017 at 08:13AM http://ift.tt/2fujsGv
#3Novices #News #OnlineMedia #China 3Novices China

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