Bearish bets raised on Indian rupee amid USD strength and virus woes – Reuters poll

Dhwani Mehta FXStreet

Investors raised bearish bets on the Indian rupee, Chinese yuan and Thai baht across the Asian fx space amid the US dollar’s strength and Delta covid variant flareups, the latest Reuters poll of analysts and fund managers showed Thursday.

Key findings

“Sentiment reversed on the Taiwanese dollar as investors went bullish on the currency for the first time since early July as strong exports data pointed to improved growth prospects.”

“Bearish bets on the baht were at their highest since August 2015.”

“Investors slightly raised their short positions on the yuan, as recent economic indicators pointed to slowing economic growth, while China's latest COVID-19 outbreak clouded the outlook.”

India: FY 2021-22 GDP growth forecast maintained at 9.2% YoY – Barclays

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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