Long bets on yuan hit five-month high despite Chinese property sector woes – Reuters poll

The latest Reuters poll of analysts and fund managers showed Thursday, investors remained unfazed by the Chinese troubled property sector concerns, as they ramp up bullish bets on the yuan.

Key findings

“Long positions in the yuan consolidated and were at their highest since early June. Traders said the meeting had raised the chances of partial tariff removals, following which the yuan climbed to a 5-1/2-month high.”

“Short positions in the Indian rupee, Philippine peso and South Korean won eased further, while market participants turned bearish on the Singapore dollar.”

“Short bets on the baht, among the region's worst performing currencies this year, fell back to their lowest since Sept. 9.”

“Investors slightly raised long positions in Indonesia's rupiah.”

Read: USD/INR to advance nicely towards 76.80 by end-2022 – ING