Bears pounce on Asian currencies on Trump tariff concerns: Reuters poll
- Investors sharply ramped up their short bets on Asian currencies and turned bearish on the Singapore dollar for the first time since early July on rising concerns that the U.S. President-elect Donald Trump's policies would erode the attractiveness of risk-sensitive emerging market assets.
"Despite robust domestic fundamentals in strong growth and falling inflation, Asia FX will have to navigate the dual challenge of higher U.S. interest rates and likely higher tariffs by the U.S. in 2025, resulting in a stronger USD," analysts at ING said. Respondents to the poll had the most unfavourable view of the won, with short bets soaring to their highest since early May.
Views on Singapore dollar turned over the fortnight as its trade-reliant economy faces uncertainty originating from potential global trade headwinds. The Asian currency positioning poll is focused on what analysts and fund managers believe are the current market positions in nine Asian emerging market currencies: the Chinese yuan, South Korean won, Singapore dollar, Indonesian rupiah, Taiwan dollar, Indian rupee, Philippine peso, Malaysian ringgit and the Thai baht.
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