According to the latest Reuters poll of 10 analysts, the bullish bets on the Chinese Yuan rose for the third straight fortnight amid US-China trade optimism.
The poll uses estimates of net long or short positions on a scale of minus 3 to plus 3.
Additional Findings:
“Long positions on the Yuan rose to their highest since February last year, with investors regaining some of their lost appetite for a currency that shed nearly 6 percent against the dollar in 2018.
The poll respondents maintained bullish positions on the Singapore dollar, the Indonesian rupiah, the Malaysian ringgit and the Philippine peso as well.
Bullish sentiment for the Thai baht remained the strongest in the region for a third successive poll, with long bets at their highest in 13 months.
The Taiwan dollar, however, remained under pressure with bearish positions on the currency piling up in the past month and a half.
Short positions on the Indian rupee fell to their lowest since early April last year, when investors were bullish on the currency.
It’s worth noting that a bulk of the poll responses came in before India and Pakistan got involved in a military conflict this week.”
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