May 18, 2009 / 8:17 AM / 10 years ago

POLL - Investors turn long on Asian currencies

SINGAPORE (Reuters) - Investors turned bullish on all seven emerging Asian currencies covered in a regular Reuters survey versus the U.S. dollar, as they took heart from tentative signs of a global economic recovery.

The poll, conducted on Friday, showed investors switched their positions to being long on the Taiwan dollar, Indonesian rupiah, Singapore dollar, Malaysian ringgit as well on the Philippine peso in the past month.

Market participants also raised their long bets on the South Korean won and Indian rupee, according to the survey.

The monthly survey asked 10 currency strategists to estimate how the market is positioned in seven Asian currencies against the U.S. dollar.

It measures estimates of the net long or short position in a currency on a scale of minus 3 to plus 3. A score of plus 3 indicates the market is significantly long on dollars.

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