Investors turn bearish on Asian FX as virus thwarts economic rebound – Reuters poll

Investors have turned bearish on the Asian currencies amid fresh covid outbreaks and lockdowns, which will threaten the region’s economic recovery,” the latest Reuters poll of analysts and fund managers showed a day before.

Additional findings

“Investors turned bearish on the currencies of South Korea, Singapore and Taiwan, and trimmed their long bets on China's yuan and the Philippine peso.”

“Short bets on South Korea's won, the Taiwanese dollar, Malaysia's ringgit, and the Thai baht were at their highest since April 8, while investors were the most bearish on Singapore's dollar since March 25.”

“They, however, turned bullish on the Indian rupee for the first time in more than two months. The currency has firmed slightly since March-end despite a crippling second wave of infections and record deaths.”

“Markets turned cautiously bullish on the Indonesian rupiah for the first time since late February.”