Emerging Asian Currencies See Bullish Bets Amid Dollar Weakness

Recent analysis from Odaily, citing a Reuters survey of eight financial experts, highlights increased bullish bets on several emerging Asian currencies. These currencies are being buoyed by the ongoing pressure on the US dollar. The survey reveals growing optimism among traders regarding the Singapore dollar, Thai baht, and Indian rupee. Notably, long positions on the Philippine peso have reached their highest levels since early October. Analysts from HSBC Holdings suggest this ‘silver lining’ for all Asian currencies stems from the challenges faced by the dollar itself. The current low position of the US Dollar Index contributes to mitigating the upward risk of the dollar against Asian currencies.