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Thread: Usd/hkd

  1. #1
    Senior Member
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    Default Usd/hkd

    I took a look at this cross today and found that it has held 7.75 for months. On further investigation it seems the HK government has guaranteed this level as a minimum.

    Wouldn't then the HKD be effectively a one-way bet to go long? Or am I missing something here?
    Disclaimer: Do not take my posts seriously. They are only opinions.

    AMR has sold all shares and is pursuing property.

  2. #2
    action-reaction arco's Avatar
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    Give it a go AMR - what have you got to loose?
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  3. #3
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    Only an Icelandic krona-style collapse I suppose! Might give this a shot then...they survived the Asian crisis of 1998, they'll survive this with their billions of US reserves.
    Disclaimer: Do not take my posts seriously. They are only opinions.

    AMR has sold all shares and is pursuing property.

  4. #4
    Legend peat's Avatar
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    USD/HKD is now a bizarre chart.
    There hasnt been much in it for longers - that support level held for months but this year hasnt been touched. So I guess the selling pressure isnt that great
    insufficient interest rate differential to exploit.
    For clarity, nothing I say is advice....

  5. #5
    Legend peat's Avatar
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    well the floor lasted all through the year but clearly something changed and when there was a corrective continuation pattern I thought time to jump.
    For clarity, nothing I say is advice....

  6. #6
    Legend peat's Avatar
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    according to Wiki theres a managed exchange rate

    __________________________________________________ _________

    HKMonetary Authority set up upper and lower guaranteed limit since 18 May 2005
    • US$1:HK$7.75–7.85 (May 2005 onwards)
    __________________________________________________ _________


    so I guess the strategy is pretty obvious

    I'm long from 7.7559 , lets see how close it gets to 7.85 , that would be 1000 pips!
    For clarity, nothing I say is advice....

  7. #7
    Legend peat's Avatar
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    a pennant is compressing on the daily - should break on the upside.

  8. #8
    Guru Dr_Who's Avatar
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    Isnt HKD pegged to the USD?
    Having got ourselves into a debt-induced economic crisis, the only permanent way out is to reduce the debt – either directly by abolishing large slabs of it, or indirectly by inflating it away.

  9. #9
    Legend peat's Avatar
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    you will see if you read back a bit through this thread that I discussed this ... (talking to myself again)

    its not fixed, its managed by the Hong KongMonetary Authority
    For clarity, nothing I say is advice....

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