Investors bearish on most Asian currencies as US yields climb
Updated : May 17, 2018 03:23 PM IST
The yield on the 10-year US Treasury paper breached the 3% level earlier this week and is currently hovering around 7-year highs on signs the US economy is on stronger footing in the second quarter.
Bearish bets on the Indian rupee climbed to their highest level since August last year, the poll of 10 respondents showed, with sentiment further soured by rising oil prices, which will add to the country's already widening trade deficit.
The rupee strengthened 0.2% against the dollar on Thursday, but has shed nearly 6% so far this year, owing to India's perennial current account and fiscal deficit problems.
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