The latest Reuters poll of analysts and fund managers showed Thursday, bearish bets on the Asian currencies eased as the regional central banks shifted to a hawkish pivot.
Short bets on the Indian rupee hit the lowest in over a month, as traders gear up for the Reserve Bank of India (RBI) monetary policy decision due to be announced this week.
Key findings
“Investors turned bullish on Singapore dollar for the first time in over a month.”
“Long positions on the Chinese yuan firmed despite increasing vulnerability from COVID-19 lockdowns.”
“Bearish positions on the Indian rupee, Philippine peso and the Thai baht eased marginally.”
“Bets on the Indonesian rupiah turned marginally long for the first time since late February, while the short position on the Malaysian ringgit solidified to its highest since mid-December on the weak growth outlook.”
‘Short bets on the Indian rupee were at their lowest since Feb. 24. The Reserve Bank of India (RBI) on Friday is expected to hold its key interest rates, even as inflation held above the central bank’s upper end of the forecast range.”
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