Short bets on Indian rupee at highest since April 2020 – Reuters poll
The bearish bets on the Indian rupee have jumped to the highest since April last year, “as an unabated spike in COVID-19 infections during the second wave of the pandemic sparked strict lockdowns in major cities,” the latest Reuters poll of analysts and fund managers showed on Thursday.
Additional findings
“Long bets on the yuan were at their highest since Feb. 25, with the currency hovering at a two-month high as China leads Asia's economic rebound.”
“Sentiment also held strong for the Taiwan dollar, with bullish positions at their highest since Feb. 11.”
“Bullish views on the Singapore dollar were at their highest since late January. Recent economic data has shown strong improvement in the city-state's key electronic exports, and economic growth is expected to exceed 6% this year.”
“Short bets on Indonesia's rupiah were trimmed as the economy has shown strong signs of recovery amid higher government spending.”
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.
