Bearish bets on Yuan hit the highest since June – Reuters poll


The latest Reuters poll of 13 respondents showed that investors turned bearish on most Asian currencies amid escalating US-China tariff war that clouded the global economic outlook and shifted the rush towards the safe-havens.

Key Findings:

“Investors switched to go short on Indonesia’s rupiah, the Indian rupee, Malaysia’s ringgit and the Philippine peso.

Increase in bearish positions on China’s yuan outpaced that of its peers, with short bets on the currency climbing to their highest since June.

Short bets were maintained on the Taiwan dollar. The country’s exports unexpectedly dropped in July as Chinese demand fell, though shipments to the U.S. rocketed to a record high.

Thailand’s baht was the sole currency in the region to see bullish positions, though these bets unwound slightly.”

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.

Feed news

Latest Forex News

Editors’ Picks

AUD/USD bounces-off the channel support, looks to regain 0.6850

The bulls managed to defend the channel support/uptrend near 0.6829 amid a rebound in the risk sentiment, as reflected by the recovery in the Asian stocks. AUD/USD looks to regain the 0.6850 level amid a broadly firmer US dollar and ahead of the Aussie jobs data. 

AUD/USD News

USD/JPY rises above 110.00, potential head-and-shoulders on 1H

Risk reset in stocks is boding well for USD/JPY.  The pair may be forming a head-and-shoulders pattern on the hourly chart. The bulls are not out of the woods yet and a break above 110.12 is needed to invalidate lower highs setup on the hourly chart.

USD/JPY News

Bank of Canada Rate Decision Preview: Rewards of Economic patience

Bank of Canada is forecast to leave the overnight rate at 1.75% where is has been since it was increased 25 basis points on October 24th 2018.   The bank makes rate policy decisions at eight fixed date meeting a year. The next is March 4th.

Read more

Gold remains under pressure around $1,551 as US dollar keeps the gains

Gold bounces off the intra-day low of $1,550.40, flashed a few minutes back, to $1,551.30 by the press time of the pre-European session on Wednesday. In doing so, the safe-haven ignores the geopolitical risks emanating from China.

Gold News

GBP/USD modestly flat around 1.3050 amid Brexit concerns, USD strength

GBP/USD holds onto the recovery despite looming Brexit uncertainty and broad-based US dollar strength. EU is likely to offer a tough Brexit deal that increases the odds of harsh departure.

GBP/USD News

Forex MAJORS

Cryptocurrencies

Signatures