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According to the latest fortnightly Reuters poll of analysts, markets turned bearish on most Asian currencies, barring the Indian Rupee amid renewed tensions over the US-China trade deal.

Key Findings:

“Short positions on the Chinese Yuan were at their highest since mid-December.

In the previous poll, bullish bets on the Yuan were seen edging higher on expectations the central bank could put any broader policy easing measures on hold after hints of a recent recovery in China’s economy.

Short positions on the won, the worst performing Asian currency this year, were at their highest since January 2016.  

Short bets on the Taiwan dollar climbed to their highest since February end.

Investors turned more bearish on the Malaysian ringgit too, with the short bets rising to their highest since mid-December.

Bearish positions on the Thai baht also rose, to their highest level since late November.

Bets on the Indonesian rupiah and the Singapore dollar turned bearish for the first time since mid- March and mid-December, respectively.

While long bets on the Indian rupee remained so for a fifth straight poll, they weakened slightly from two weeks back.”