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Hong Kong's central bank was forced Friday to intervene in the FX market for the first time in...

Hong Kong's central bank was forced Friday to intervene in the FX market for the first time in years, selling HKD after it hit HK$7.75, the top of its trading band against the greenback. The HKD's strength again gives rise to chatter the famous peg might be abandoned. Bill Ackman's bet on such is one year old, going on two. Hong Kong shares (EWH +17.8% YTD) are among the best performers in Asia this year.
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