Bullish bets on Indian Rupee raised ahead of elections – Reuters poll

According to the latest Reuters poll of 14 respondents on the Asian currencies, a majority of them raised their bullish bets on the Indian National Rupee (INR) over the past two weeks, as investors turn their focus on the general elections.

Key Findings:

“Investors, who only turned bullish on the rupee at the start of March for the first time in nearly a year, have since raised their long positions to their highest since January of last year.

On the other hand, Thailand, which is still reeling from the fallout of uncertainty surrounding its election at the end of March, has seen investors unwind some of their long positions on the baht gradually built up during the first two months of the year.

The baht, however, still remains the best performing currency so far this year among its regional peers, gaining about 2.5 percent thus far.

investors turned bullish on the rupiah once again after a month’s hiatus.

Elsewhere, investors trimmed long positions on China’s Yuan to their lowest since turning bullish in January.”