Investors continue to remain bearish on the Asian currencies, as they reduce their long positions amid the Fed’s tightening expectations, the latest Reuters poll of analysts and fund managers showed Thursday.
“Investors remain largely bullish on emerging currencies in Asia, with long bets on the Taiwan dollar and Indonesian rupiah slightly raised from two weeks ago.”
“Long bets on the rupiah were at their highest since February.”
“Taiwan’s dollar has appreciated sharply since late March as the economy booms on the work-from-home trend fuelling global demand for tech.”
“Long bets on China’s yuan were lowered after they hit a six-month high in the last poll.”
“Bullish bets on the Singapore dollar, South Korean won and Philippine peso PHP= were all trimmed. “
“For the Indian rupee, a strong performer in May, long bets were also lowered.”