Hedge funds are persevering with to run Hong Kong greenback carry trades regardless of an increase in native rates of interest, albeit on a much-reduced scale in contrast with earlier within the 12 months.
Sellers, nonetheless, anticipate a giant resurgence in these positions ought to spot as soon as once more hit the underside of the forex’s buying and selling band, which might drive authorities to intervene.
“We expect the quick cash [hedge funds] are nonetheless working some kind of lengthy [US] greenback carry commerce,” says a senior Hong Kong-based FX and charges dealer at a
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