The market is bearish on Trump's tariff threat, and bearish bets on Asian currencies have eased further

FXStreet data on February 20, the shortsPosition of Asian currencies were at multi-month lows on Thursday, as analysts' concerns about the possible extension of the global trade war eased and factors favoring rise in risk-sensitive assets were taken into account. According to a Reuters survey of 13 respondents, the bearish Position of the Singapore dollar was at its lowest since October 31, 2024, while the shortsPosition of the South Korean won fell to its lowest level since early October last year. The Thai baht is one of the best performing currencies in Southeast Asia, pumping more than 2% since the beginning of the year. Poon Panichpibool, market strategist at Thai Military Bank, attributed the adjustment of the Thai baht's Position to the recent rise in gold prices, but due to uncertainties on the US side, he remains cautious about the Thai baht.