Investors bullish on ringgit as trade worries fade

Bullish bets on the Malaysian ringgit rose to their highest since February 2019. The poll was conducted before Malaysia's central bank on Wednesday surprised markets by cutting interest rates by 25 basis points to 2.75%.

INVESTORS took long positions in all Asian currencies for the first time since June 2017 as an initial trade truce between the United States and China revived appetite for riskier assets.

Long bets on the high-yielding Indonesian rupiah rose to their highest since February 2019, while investors turned bullish on the Indian rupee for the first time in more than five months.