According to the latest Reuters survey of analysts and fund managers, bearish bets on most Asian currencies have gained strength amid continued US dollar strength and global recession fears.
Main conclusions
“Short positions in the yuan, which have hit multi-year highs in recent weeks, have increased marginally in the last two weeks.”
“Similar bets on the Malaysian ringgit and the Indian rupee also rose.
“Singapore dollar short positions, however, have been reduced in recent weeks as the island state’s currency was better positioned to weather the storm of rising rates.”
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Source: Fx Street
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