Asian FX bears climb multi-year highs, short bets on Thai baht rise most - Reuters poll

Bearish bets on nearly all Asian currencies firmed to new multi-year highs, as fears of an impending recession from rapidly rising interest rates to rein in sky-high inflation dampened sentiment, a Reuters poll showed on Thursday.

The Philippine peso was the most shorted Asian currency after it hit a 17-year low earlier this week, as investors feared the Bangko Sentral ng Pilipinas' rate hikes would still leave it behind the curve in fighting inflation. The poll responses were collated before the BSP surprised markets on Thursday with an off-cycle 75-basis points hike to its benchmark interest rate.

In another off-cycle move, Singapore's central bank also re-centred the midpoint of the currency's exchange rate policy band earlier in the day.

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