Bullish bets on Chinese yuan trimmed amid China virus outbreak – Reuters poll
|Investors turned bullish on the Asian currencies for the first time since June 2017, in light of the US-China phase one trade deal.
Key Findings:
“Long bets on the high-yielding Indonesian rupiah rose to their highest since February 2019, while investors turned bullish on the Indian rupee for the first time in more than five months.
A majority of the 12 poll participants also raised their long positions in the Korean won, the Taiwan dollar and the Philippine peso.
Bullish bets on the Malaysian ringgit rose to their highest since February 2019.
Investors, however, scaled back long bets on the Chinese yuan as the spread of a flu-like virus in China stoked fears of a global pandemic.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.