According to latest Reuters poll on the outlook for the Asian currencies, Investors raised bearish positions over the past two weeks on all emerging Asian currencies amid Fed tightening and global trade concerns.

Key Findings:

“In Asia, investors piled bearish bets on the Chinese yuan to the highest on record, the Reuters poll of 11 respondents showed.

Over the last two weeks, the currency has weakened about 1.48 percent. 

Bearish positions on the Taiwan dollar rose the most, after those on the yuan. Taiwan’s export-centric economy leaves it exposed to the potential fallout of a worsening global trade stand-off.

Indonesia’s rupiah saw bearish positions being ramped up to their highest since October 2015, as the currency slid to its lowest in about 33 months earlier this week.

In the poll, the Thai baht saw short positions rising to their highest since mid-October 2016. 

The Philippine peso has the second highest level of bearish bets in the region, the poll found.

Short positions on the Malaysian ringgit were at their highest in a month, with any hopes for a rate hike being dealt a blow as the annual inflation rate in June slowed to its lowest since February 2015, after the government abolished a goods and services tax.

Short positions on the Indian rupee and Singapore dollar were also raised to the highest in a month. The Indian rupee touched an all-time low on Friday.”