Market participants increased their long positions in most Asian currencies versus two weeks ago. Bullish bets on the Chinese Yuan reached their highest value since December, as a Reuters survey disclosed on Thursday. It’s because the greenback languished close to multimonth minimums on political woes in the USA.
The survey was carried out between Tuesday and Wednesday. All responses were obtained before the Fed concluded its two-day gathering on Wednesday.
The key US bank maintained its benchmark lending rate and told it was keeping to its slow path of monetary tightening, though stressed both overall inflation as well as a measure of underlying price gains had went down. Apparently, the perceived dovish tone on inflation sent the greenback to a 13-month minimum versus a basket of currencies.
Long positions in the Chinese Yuan have rallied to their highest value since December. Meanwhile, the Korean won has demonstrated the most bullish bets since May.
On Monday, the US currency declined to a two-week minimum versus the Japanese yen because a latest flare-up in global trade worries affected investor risk appetites and suppressed American yields…
On Friday, the common currency was still high because the evergreen buck declined and trade worries didn’t recede…
On Friday, the evergreen buck drifted away from a 11-month maximum against the group of its key rivals due to the fact that market participants recorded gains after the greenback’s leap…
On Monday, Asian shares shook off a sluggish start and stabilized, with Japan outperforming on positive earnings…
America’s on the verge of starting an investigation into whether thermoplastic components utilized in some Japanese as well as German vehicles sold in the country violate its patent laws or not…
On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…
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