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Short bets on all the Asian currents returned for the first time since April last year, the latest Reuters poll of analysts and fund managers showed on Thursday.

Key findings

“For the first time since April 2020, when markets were grappling with global shutdowns and uncertainty, investors turned short on all nine Asian currencies.”

“Bets on the yuan, which had been relatively more bullish as China emerged from the pandemic first and was the only major economy to see growth in 2020, turned short for the first time since last June.”

“Even positions on Taiwan’s dollar and India’s rupee turned short for the first time since May and June, respectively.”

“Bearish bets on the Philippine peso and Thai baht were raised and stood at their highest since April.”