Investors turn bullish on Indonesian Rupiah for first time in 3 months – Reuters poll

According to the latest Reuters poll, investors turned bullish on the Indonesian Rupiah for the first time in nearly three months amid Fed rate cut bets induced ongoing broad USD weakness.

Key Findings:

“An average of 14 analysts were bullish on the Indonesian rupiah even as the country’s central bank is expected to go on an easing cycle ahead of a Fed rate cut.

Even though markets unwound some bearish bets on the South Korean won, it was still the most shorted unit in the region due to concerns over the country’s worsening political and economic dispute with crucial trade partner Japan.

Long positions on the Thai baht receded from the last poll as the central bank clamped down on short-term foreign inflows to temper rapid gains in Asia’s best performing currency this year.”