USD/INR Price News: Bullish bets on Indian rupee rise to three-year highs – Reuters poll
|The latest Reuters poll of 13 analysts and fund managers showed that the investors turned bullish on all of the major nine Asian currencies this year, with the bullish bets on the Indian rupee hitting three-year highs.
Key findings
“Long positions on India's rupee were sharply raised to a three-year high.
Long bets on the Chinese yuan, South Korea's won, Singapore's dollar and the Malaysian ringgit were all raised to their highest since early 2018.
Long bets on the yuan have been hiked in five consecutive polls, and global investment banks now bet the currency's recent rally will be sustained due to persistent dollar softness and continued capital inflows.
investors turned bullish on the Indonesian rupiah for the first time since June, latching on to improving appetite for risk and interest rate differentials, all in spite of worries about the central bank's independence.”
Meanwhile, USD/INR is off the three-day highs of 73.40, neutral around 73.28, at the time of writing. The cross slumped to half-yearly lows of 72.75 last Tuesday.
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