Bears Ease Grip On Most Asian Currencies As Trade Worries Ebb: Reuters Poll

www.oann.com | 5/31/2017 | Staff
Mandyixus (Posted by) Level 3
(Reuters) – Investors rolled back short positions on most Asian currencies over the past two weeks, a Reuters poll showed, as risk appetite picked up after the United States and China agreed to restart trade talks.

News that the world’s two largest economies would return to the negotiation table in early October was cheered by markets, with bearish bets on the Chinese yuan being sharply unwound.

Prospects - Brexit - Breakthrough - Hong - Kong

Reduced prospects of a no-deal Brexit and a possible breakthrough in Hong Kong’s political standoff also helped investors raise views on Asian units and reduce safe-haven holdings.

The poll was closed on Wednesday, before a surprise announcement from U.S. President Donald Trump delaying scheduled tariff hikes on billions of dollars worth of Chinese goods.

Positions - Currencies - Economies - Sentiment - Korean

Short positions in currencies of export-focused economies were also shaved, with sentiment toward the Korean won , the Taiwan dollar and the Singapore dollar improving the most, the poll of 15 respondents showed.

This spot of relief comes as worries over cooling demand from the region’s largest trading partner, China, has begun to ease.

Bulls - Hold - Indonesian - Rupiah - Time

Meanwhile, bulls seized hold of the Indonesian rupiah for the first time since early August, the poll found.

A series of rate hikes last year has led to high real interest rates in the country, which helped to keep inflation in check and smoothed...
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