Bearish bets on most Asian currencies firmed, a Reuters poll found on Thursday, as several regional central banks trail the U.S. Federal Reserve in tightening their monetary policies to fight red-hot inflation.
Analysts turned short on the Chinese yuan for the first time since early-October due to worries of an economic slowdown in the country caused by COVID-19 lockdowns, the fortnightly poll of 14 respondents showed.
Market participants raised short positions on the Malaysian ringgit to their highest since late-August, while the position was the largest since early-December in case of the Thai baht . "It's hard to see any turnaround in Asian currencies unless U.S. yields take a decisive turn lower and in turn the USD reverses course more broadly."
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