Investors also doubled down on their bearish positions against the rupiahamid mounting deaths from the coronavirus in Indonesia and persistent worries over policy mix and growth.
Doubts about the central bank’s autonomy after proposals to expand its mandate at a time when it is already financing huge sums of government debt have kept investors on edge, despite attempts by officials to reiterate Bank Indonesia’s independence.saw long bets rise to their highest since January. The currency has been among the region's best performers this year as the tech-focussed economy benefits from increased stay-at-home working.
The Asian currency positioning poll is focused on what analysts and fund managers believe are the current market positions in nine Asian emerging market currencies: the Chinese yuan, South Korean won, Singapore dollar, Indonesian rupiah, Taiwan dollar, Indian rupee, 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 U.S. dollars.Reporting by Shashwat Awasthi in Bengaluru, Editing by Sherry Jacob-Phillips
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