Investors sour on baht, trim long bets on most emerging Asian currencies: Reuters poll

(Reuters) – Investors turned bearish on the Thai baht for the first time in two months, highlighting concerns over the pace of recovery in Southeast Asia’s second-largest economy through the COVID-19 pandemic and a domestic political crisis.

FILE PHOTO: A Thailand Baht note is seen in this illustration photo June 1, 2017. REUTERS/Thomas White/Illustration

Bullish bets on most other emerging Asian currencies were scaled back with the U.S. dollar near two-month highs in recent weeks amid uncertainty leading up to the U.S. Presidential election, while market participants further increased short positions on the Indonesian rupiah IDR=.

Short positions on the baht THB=TH were at their highest since late-April, a fortnightly poll of 12 respondents showed, as the government tries to revive the tourism-reliant economy by approving long-stay visas for foreign tourists, providing tax incentives and cash handouts.

Last month, the Thai central bank left interest rates unchanged and upgraded

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POLL-Investors sour on baht, trim long bets on most emerging Asian currencies

By Shashwat Awasthi

Oct 1 (Reuters)Investors turned bearish on the Thai baht for the first time in two months, highlighting concerns over the pace of recovery in Southeast Asia’s second-largest economy through the COVID-19 pandemic and a domestic political crisis.

Bullish bets on most other emerging Asian currencies were scaled back with the U.S. dollar near two-month highs in recent weeks amid uncertainty leading up to the U.S. Presidential election, while market participants further increased short positions on the Indonesian rupiah IDR=.

Short positions on the baht THB=TH were at their highest since late-April, a fortnightly poll of 12 respondents showed, as the government tries to revive the tourism-reliant economy by approving long-stay visas for foreign tourists, providing tax incentives and cash handouts.

Last month, the Thai central bank left interest rates unchanged and upgraded its gross domestic product outlook, but more than two months of

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