According to the latest Reuters poll of fx strategists, investors have ramped up their bullish positions in the Indian Rupee (INR) over the past two weeks, as the focus shifts towards the general elections.
Key Findings:
“Investors piled on long rupee bets in a return to bullishness earlier this month after a year, the poll of 12 respondents showed.
Meanwhile, bullish bets on the Chinese Yuan receded after a raft of weak economic data showed faltering momentum of external trade and domestic demand, and lack of clarity on trade negotiations between China and the U.S.
Investors upped their bearish bets on the Indonesian rupiah to levels last seen in mid-December.
Long positions on the Philippine peso reversed course, the poll showed.
Investors notched up their long positions on the Thai baht and the Singapore dollar, while cutting bearish bets on the South Korean won and Taiwan dollar.”
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