According to the latest Reuters poll, investors turned bearish on most Asian currencies in a fortnight amid concerns over the economic impact of China coronavirus outbreak.
Key Findings:
“Prospects soured for the Thai baht, Asia’s worst performing currency this year, as the fast-spreading virus weighs on the struggling economy that is heavily reliant on Chinese tourism and trade.
Rebounding into bear territory, short positions in the Chinese yuan and the South Korean won were at their highest since mid-October 2019.
Bearish positions in the Singapore dollar outpaced that of its peers, with short bets on the currency climbing to their highest in more than five months.”
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