INSUBCONTINENT EXCLUSIVE:
Sentiment towards the rupee shifted, with investors sending it into bear territorySentiment towards most Asian currencies worsened in the
past two weeks, a poll by news agency Reuters showed, as a bitter tariff war between the world's two biggest economies sent investors
scurrying to safer assets, raised doubts about growth and rang recession alarms.Investors switched to go short on the rupee, Indonesia's
rupiah, Malaysia's ringgit and the Philippine peso, according to a poll of 13 respondents.The poll was closed on Wednesday, before
equities worldwide crumbled after an inverted US bond yield curve ramped up fears of a global recession.Increase in bearish positions on
China's yuan outpaced that of its peers, with short bets on the currency climbing to their highest since June.Beijing's trade stand-off
with Washington intensified over the past fortnight and was set to spill into the currency markets when the yuan slipped past 7 to the
some tariffs, offering small pockets of relief that have since been obliterated thanks to the recession warning and weak growth data out of
2 economy stumbled more sharply than expected in July and industrial output growth cooled to a more than 17-year low
Any downturn in China's economic fortunes ripples through many major Asian economies that count it as a key trade partner.Hong Kong's
pro-democracy protests have also featured in the US-China trade rhetoric, after Donald Trump tweeted on Wednesday about the trade deal and
urged Beijing to seek a humane resolution to the city's months-long political crisis.Sentiment towards the rupee shifted, with investors
sending it into bear territory
India faces a deepening economic slowdown, which was most recently highlighted by easing July wholesale price inflation that indicated
manufacturers are losing their power to raise prices.Short bets were maintained on the Taiwan dollar
The country's exports unexpectedly dropped in July as Chinese demand fell, though shipments to the US rocketed to a record high.Thailand's
baht was the sole currency in the region to see bullish positions, though these bets unwound slightly.Thailand's central bank last week
joined counterparts in India and New Zealand to stun markets with a series of surprise interest rate cuts that signalled policymakers'
dwindling ammunition to fight off an economic downturn.The Reuters survey is focused on what analysts believe are the current market
positions in nine Asian emerging market currencies: the rupee, the Chinese yuan, South Korean won, Singapore dollar, Indonesian rupiah, the
Taiwan dollar, the Indian Philippine peso, Malaysian ringgit and the Thai baht.The poll uses estimates of net long or short positions on a
scale of minus 3 to plus 3.A score of plus 3 indicates the market is significantly long on US dollars
The figures included positions held through non-deliverable forwards (NDFs).Get Breaking news, live coverage, and Latest News from India and
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