Bearish bets on China’s Yuan at their highest in one year

According to the analysts surveyed by Reuters, investors have turned bearish on most Asian currencies, in the face of the US-China trade escalation-led US recession fears.

Key Findings:

“Short bets on China’s yuan were at their highest in one year, a Reuters poll of 13 respondents showed.

Investors’ view of the Indian rupee also worsened, with short positions rising to the highest since November 2018.

Bearish bets on the South Korean won were at a more than three-month high and those on the Taiwan dollar were at a two-month peak.

Meanwhile, investors increased long positions on the Thai baht, a bastion of strength in Asia.”