The latest Reuters poll showed that the bearish sentiment on the Asian currencies resurfaced over the past two weeks, as expectations of an interim US-China trade deal faded.
Key Quotes:
“Majority of 12 poll participants responded by 0630 GMT on Wednesday, before Reuters reported, citing trade experts and people close to the White House, that a “phase one” deal could slide into next year.
Bullish bets on China’s yuan slipped, a fortnight after investors turned long for the first time in nearly seven months.
Investors scaled back some bullish bets on the Indonesian rupiah, the Taiwan dollar and the Philippine peso, while short bets rose on the Indian rupee and the Malaysian ringgit.
Long positions on the Singapore dollar rose to their highest since February 2018.”
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