Investors trimmed short positions on most Asian currencies as massive stimulus measures to ease the economic pain of the coronavirus outbreak offered a degree of support, but strict lockdowns and a sustained flight out of regional assets continued to exert pressure, a Reuters poll found.
Central banks and governments from China to South Korea have unleashed unprecedented fiscal and monetary stimulus worth billions of dollars in a bid to stave off a recession and temper the devastating economic effects of movement curbs.
Intervention to combat the dual threat from the sudden liquidation of regional assets and a dollar funding shortage also helped ease bearish sentiment, the poll of 13 respondents showed.