I might take this as a view on present market sentiment, because the tides are turning within the greenback’s favour this week. It’s just about a double whammy on this occasion, after having seen China disappoint with simply a 5% development goal over the weekend after which Fed chair Powell placing out some extra hawkish feedback on Tuesday.
In keeping with the Reuters ballot, bearish bets intensified on practically all Asian currencies with shorts on the Chinese language yuan reaching their highest since November final yr. Here’s a extra detailed breakdown (+3 signifies max. web lengthy within the US greenback, -3 signifies max. web quick within the US greenback):
