According to the fortnightly poll of 16 respondents, conducted by Reuters, investors have turned more bullish on the Asian currencies amid the coronavirus vaccine hope, with the long bets on the Chinese yuan reaching two-year highs.
Key quotes
“Bullish positions in the yuan outpaced those in peers and were at their highest in two-and-a-half years, touching levels only seen before the trade war between the United States and China started.
Bullish bets on the Philippine peso and the Indian rupee climbed. Sentiment towards the two currencies has lately improved on the back of solid net inflows.
Bearish bets more than doubled on the Indonesia rupiah after the central bank cut interest rate last week.
Investors turned bearish on the Thai baht for the first time since late May.”
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