According to the latest Reuters poll of 15 respondents, investors have turned bearish on most Asian currencies and trimmed their bullish bets amid the coronavirus resurgence worldwide.
Key findings
“The poll showed a sharp drop in long bets on Indonesian rupiah, a move closer towards bearish territory for the Philippine peso and Singapore dollar and investors turning short on the South Korean won again.
Investors also trimmed long bets on the Thai baht.
The baht has been appreciating in recent months, with gold prices surging, helping to cap the sharp drop in exports and lend support to the currency.”
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