Reuters latest Asian currency survey reveals that bullishness in the Chinese yuan hit a near seven-month high, while sentiment on most emerging Asian currencies slightly deteriorated in the last two weeks on global economic risks, a Reuters poll showed on Thursday.
Sentiment on the yuan turned the most optimistic since late January, as investors piled up long positions on the currency amid signs of stabilization in the Chinese economy. On Monday, the renminbi touched a near five-month peak, as China’s central bank signaled it was comfortable with the stronger currency.
A survey graph is provided below – The figures include positions held through non-deliverable forwards (NDFs):
Sentiment on the RMB flipped back to the bullish side back in June