(Bloomberg) — Credit trading veteran Boaz Weinstein said he’s betting against the Hong Kong dollar, joining hedge fund industry peer Bill Ackman in publicizing his short position on the pegged currency.
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“Bill’s trade is a smart lottery ticket and I also have it on,” Weinstein, the founder of Saba Capital Management, said in a tweet responding to another by Ackman predicting it is only a matter of time before peg breaks.
The two veteran traders are up against history in their bets that they can hit a jackpot on the potential demise of a dollar peg that has survived repeated speculative attacks since 1983 and wrong footed big-name investors including George Soros.
The duo didn’t disclose the size of their wagers.
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Source: https://finance.yahoo.com/news/veteran-trader-weinstein-calls-hong-123830345.html