The latest Reuters poll of analysts and fund managers showed Thursday, investors ramped up their long bets on the Chinese yuan to the highest since June 3, 2021, despite the Omicron covid variant-led hit and hawkish Fed outlook.

Key findings

“Positions in the baht were neutral, the first time they have been anything but bearish since Feb. 25.”

“Investors turned short on the Indian rupee just a fortnight after going long, while bearish bets on the Philippine peso were at their highest since Oct. 7.”

“Long positions in the Chinese yuan were at their highest since June. “

“Market participants turned bullish on Singapore’s dollar for the first time since early November.”

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