Bearish positions hover at multi-month highs on most Asian FX – Reuters poll

According to the latest Reuters poll of analysts and fund managers, the bearish outlook on most Asian currencies has eased but short positions remain at around multi-month highs.

Key findings

“Short bets on the Thai baht were the highest since January 2018, having steadily built up since early March.”

“Sentiment for the Philippine peso improved over the past two weeks after the Bangko Sentral ng Pilipinas in mid-July raised its key interest rates by 75 bps in an off-cycle move.”

“Chinese yuan seen as a safer bet among Asian currencies, was the second-least shorted currency in the region, while short positions on the Indian rupee, Indonesian rupiah and the Malaysian ringgit moderated slightly but remained firm.”

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