The latest Reuters poll of 13 respondents showed that investors turned bearish on most Asian currencies amid escalating US-China tariff war that clouded the global economic outlook and shifted the rush towards the safe-havens.
Key Findings:
“Investors switched to go short on Indonesia’s rupiah, the Indian rupee, Malaysia’s ringgit and the Philippine peso.
Increase in bearish positions on China’s yuan outpaced that of its peers, with short bets on the currency climbing to their highest since June.
Short bets were maintained on the Taiwan dollar. The country’s exports unexpectedly dropped in July as Chinese demand fell, though shipments to the U.S. rocketed to a record high.
Thailand’s baht was the sole currency in the region to see bullish positions, though these bets unwound slightly.”
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