Bullish bets on the Indian Rupee receded amid trade war – Reuters poll

Investors continued to remain bearish on most Asian currencies and maintained their short positions over the past two-weeks amid escalating US-China trade war, the latest Reuters poll showed.

Key Findings:

“All 14 participants in the poll were bearish on the Chinese yuan as the country threatened to retaliate against fresh American tariffs on its exports. 

Bearish positions on the South Korean won were steady, while short bets on the Taiwan dollar were at their strongest in nearly 3-1/2 years. 

Bullish bets on the Indian Rupee receded as investors perceived further headwinds to the import-heavy economy from Sino-U.S. trade tensions.

Short bets on the Malaysian ringgit edged up to levels last seen in November 2016.

Bucking the trend, investors turned bullish on the Thai baht as the expected parliamentary confirmation of military junta leader General Prayuth Chan-Ocha as civilian prime minister concluded a largely splintered election process.

Short positions on the Indonesian Rupiah eased slightly.”

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