Long bets on Asian currencies trimmed amid higher US yields – Reuters poll

Bullish bets on the Asian currencies are likely to have reduced, as the yields on the US Treasuries appear more attractive, the latest Reuters poll of analysts and fund managers showed on Thursday.

Key findings

“Bullish bets on the Chinese yuan, Singapore’s dollar, Malaysia’s ringgit and the Thai baht were trimmed for the first time since COVID-19 vaccines were announced in early November.”

“The low-yielding South Korean won saw bullish views being cut to their lowest in three months.”

“Bullish bets on the Taiwanese dollar, Asia’s best-performing currency in 2020, and the yuan were unwound slightly after the central banks there took steps to rein in their soaring local currencies.”