My assets are stuck in HKD! Need to go to Canada

Most of my assets are in HKD but I eventually need to change my cash to CAD since I'll be heading to Canada shortly. As most of you know, the HKD is pegged to USD and the USD has been going down the toilet these recent years. I'm just wondering should I wait it out for the USD to rebound? Or perhaps wait for the HKD to unpeg itself from the lousy USD? (Presumably, unpegging would mean appreciation of the HKD.) Or will CAD go down in the near future? Or is this all wishful thinking and the USD will go down even more?


I guess this is an open-ended question so all opinions/speculations are welcome. What would you do in the same situation? Thanks.

Based on the analysis that I've read, the medium-term movement of the USD against most major currencies (excluding probably the GBP) is likely to be downward. Having said that, there could be, as in the past couple of weeks, short-term upward movements, but overall the consensus view seems to be that the overall direction will be downward.


As to the HKD peg being either adjusted or dropped, I would not hold your breath. My guess is that HK is very unlikely to do that for quite some time.


The Canadian economy has, along with Australia, been one of the more robust among developed economies, and as a result their currencies are likely to remain relatively more attractive over the medium-term at least, as places like the US, UK etc. try to dig themselves out of their respective fiscal holes.


If you're likely to be needing your cash in CAD relatively soon (like in the next year or so), then I would start exchanging your HKD to CAD, maybe do a certain amount every month rather than all at once.


At the end of the day though, your guess is probably as good as anyone's! It all comes down to when you need the cash in CAD.

Thanks for your reply. It doesn't look good for the USD. Arrgh.