Lazard and Pimco profit from shorting Hong Kong dollar

Repeat interventions from HKMA fail to revive a currency under pressure from rising US rates

Hong Kong dollar

The rapid rise in US interest rates has roiled investments from technology stocks to cryptocurrencies. But one trade is enjoying a renaissance: shorting the Hong Kong dollar.

Lazard Asset Management, Fiduciary Management and Pimco held net short positions of US$323 million, US$110 million and US$89 million in Hong Kong dollar FX forwards, according to data gathered from regulatory filings in the US (see figure 1). The investors placed their short bets at prices ranging from HK$7.7567 to HK$7

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

If you already have an account, please sign in here.

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: