Investors’ sentiment on the Asian currencies improved to multi-year highs amid expectations that a vaccine-driven economic recovery in 2021 could likely fuel a surge in exports and capital inflows, the latest Reuters poll of analysts and fund managers showed on Thursday.
“Long positions on the Chinese yuan, seen as the anchor for other currencies in the region due to strong trade ties, stood at their highest level since January 2014.”
“Bullish bets on the South Korean won were near an eight-year high, while those on the Taiwan dollar jumped to their highest since early October 2009. Long views on the Singapore dollar hovered near a three-year high.”
“Long bets on the Thai currency rose to their highest since January but were at relatively lower levels compared to other export-sensitive currencies, as political tensions and growing central bank discomfort over the baht’s appreciation weighed.”
USD/INR Price News: Indian rupee buyers look to yearly support line during fourth weekly drop