Anushka Trivedi
3 minute read
A China yuan note is seen in this illustration photo May 31, 2017. REUTERS/Thomas White/Illustration
Summary
Confidence in yuan wanes after govt regulatory threat
Bearish positions raised on most Asian currencies; won bets at over 1-yr high
July 29 (Reuters) - Investors turned bearish on the yuan for the first time since April as China s regulatory crackdown on private sector firms sent jitters through markets, while sentiment towards the Indian rupee improved from a fortnight ago, a Reuters poll found.
Short positions were raised on all other Asian currencies like the Philippine peso , Malaysia s ringgit and the Thai baht as the region s dire COVID-19 situation and prospects of broad dollar strength eroded their appeal.
Chinese yuan bears return after regulatory crackdown on private sector: Reuters poll
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The daily business briefing: July 29, 2021
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