Bullish bets on most Asian currencies eased as strong U.S. economic data recently gave the dollar a fillip and raised bets that interest rates would remain higher for longer, a Reuters poll found on Thursday.Long positions on the South Korean won, the Singapore dollar and the Indonesian rupiah eased, whil
Bullish bets on most Asian currencies eased as strong U.S. economic data recently gave the dollar a fillip and raised bets that interest rates would remain higher for longer, a Reuters poll found on Thursday.
Last week, the Fed raised rates by 25 basis points , as expected, but Chair Jerome Powell and other officials have indicated that more rate hikes are on the cards. While investors are caught in a holding pattern before U.S. consumer price inflation data next week, hopes around China's reopening have yet to meet the reality check that comes with stronger data points, said OCBC currency strategist, Christopher Wong.
Meanwhile, investors turned slightly bearish on the Indian rupee as concerns over a rout in local equities filtered into money markets.
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