Hong Kong Dollar Slide Aided by Record Low Cost for Short Bets
The cost of shorting the Hong Kong dollar has slumped to an all-time low, as the currency weakens to the middle of its fixed trading band.
One-month forward points on the city's dollar, which are added to or subtracted from the spot level to calculate the forward rate, dropped to the lowest on record Monday, according to data complied by Bloomberg. That has renewed bearish bets against the city's currency.
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