usd.hkd @7.85 right now, any seller ?

L

luisHK

bid/ask @7.84995/785005 on tws, right on the upper limit. I sure hope HKD peg doesn't break but imagine there's big money on the long side to reach that limit.
Any one here trading/investing in that pair ? What products do you use (there are no futures, with tws the way the system calculates interests makes using forex on margin expensive if holding overnight. HK banks offer structured products on various currency pairs, usually if it's structured and sold by a HK bank, it is not a good deal. Not crazy about going short as I got burnt badly by the swiss franc a few years ago but still curious to read about what you guys are doing or thinking re USD/HKD
Already holding quite a bit of HKD btw, but mostly invested in HKSE.
 
Actually wondering as well. No futures available for HKD afaik and no good swap rate through Interactivebrokers, nor I'm afraid through HK banks although it might be a matter of how much one plans to put in that trade. I just own HKD as part of a broader portfolio, without leverage. Would rather play short usdhkd btw, expecting the band to hold its multi decade streak, but it should get very ugly if that breaks.
Expecting HK stocks to go up though if limit is broken, yet recently watching chinese stocks sinking along their home currency has been harrowing.
 
7.85 seems to be a strong resistance.
no idea when it will be broken.

I presume you intend to hold this carry trade for months / years.


overall, HKD is uptrend.
But HKD hardly move since Apr 18.
It is like zero heart beat.


look at the support at 7.75.
HKD was supported at 7.75 for more than 30 years ! :confused::wtf:


well. don't know if 7.85 resistance will last for 30 years or not.
It it is, I don't think we will be in this world.


personally I wouldn't invest in product with zero heart beat
as there are other better things to invest.
anyway do your own analysis .
 
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