Investors turn bullish on Indian rupee for the first time in nearly a year – Reuters poll

According to the latest Reuters of 11 respondents on the Asian currencies, the bullish bets on the Indian Rupee returned after early April last year, as markets prefer holding the Indian currency heading into the general elections in seven stages starting April 11.

Key Findings:

“Long positions in the Yuan remained intact for over two months now, and strongest in the region in the current poll, despite a slew of poor economic data from China pointing to a slowdown.  

The poll respondents maintained bullish positions on the Thai baht, the Malaysian ringgit and the Singapore dollar since the turn of the year.

However, the long bets on the baht, the best performing Asian currency, fell drastically, to their weakest level since mid-December last year.

Investors held bearish positions on the Korean won for a fourth consecutive poll with short positions on the currency at their highest since November last year.”