Bullish bets on Chinese yuan trimmed amid China virus outbreak – Reuters poll

Investors turned bullish on the Asian currencies for the first time since June 2017, in light of the US-China phase one trade deal.

Key Findings:

“Long bets on the high-yielding Indonesian rupiah rose to their highest since February 2019, while investors turned bullish on the Indian rupee for the first time in more than five months.

A majority of the 12 poll participants also raised their long positions in the Korean won, the Taiwan dollar and the Philippine peso.

Bullish bets on the Malaysian ringgit rose to their highest since February 2019.

Investors, however, scaled back long bets on the Chinese yuan as the spread of a flu-like virus in China stoked fears of a global pandemic.”