Bearish bets on yuan hit 3-month high on China growth fears – Reuters poll

Investors continued to remain short on most Asian currencies but bearish bets on the Chinese yuan shot up to three-month highs, according to the latest Reuters poll of analysts and fund managers.

Key findings

“Bearish bets across most Asian currencies firmed on global growth concerns.

Short positions on the Chinese currency rose to their highest since May.

Investors raised their short bets on the Indonesian rupiah and the Thai baht.

Bearish bets on the Malaysian ringgit rose to their highest level since Sept. 2015, despite a rapid GDP rise in the second quarter.

Similar short positions were also seen for the Philippine peso.

Related reads

• USD/CNH reverses from two-year high towards 6.8500 but bears are far
• USD/INR: Bulls need to wait for more for printing a fresh all-time high above 80.20