Investors returned to placing bearish bets on all Asian currencies shortly after on the increasing likelihood that the U.S. Federal Reserve would continue hiking rates for longer, helping the dollar regain its lost momentum, a Reuters poll showed on Thursday.Short bets on the Indian rupee firmed further t
Investors returned to placing bearish bets on all Asian currencies shortly after on the increasing likelihood that the U.S. Federal Reserve would continue hiking rates for longer, helping the dollar regain its lost momentum, a Reuters poll showed on Thursday.
Since then, a host of strong economic data from the United States, including its stubbornly high inflation print, has been pointing towards resilience in the country's economic conditions, cementing bets that the Fed will keep hiking rates for longer. They turned bearish on the Thai baht, Asia's best-performing currency this year, the Singapore dollar and the Malaysian ringgit for the first time in three months.
Meanwhile, a majority of the Reserve Bank of India's policy committee members reiterated that it would be premature to lower the guard against inflation.
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