According to a Reuters survey released on Thursday, analysts turned bearish on most Asian currencies. The Indian rupee's bearish bet hit a record high in a year, as expectations that the Fed's interest rate cuts would weaken strengthened the dollar and overshadowed riskier Asian assets. According to a biweekly survey of 11 analysts, bearish bets on the Korean won, Philippine peso, and Indonesian rupee reached their highest point since July 25. Against the backdrop of weakening expectations of the Federal Reserve's sharp interest rate cuts and uncertainty about the US election, rising demand for the US dollar weakened investors' confidence in Asian currencies. Last week, the Indian rupee fell below 84, an important mark held by the Bank of India for more than two months. The recent surge in oil prices may increase India's import expenses, and the withdrawal of foreign capital from the Indian stock market is also putting pressure on the Indian rupee. The investigation was carried out before interest rate decisions by the central banks of Thailand, the Philippines, and Indonesia on Wednesday. The Bank of Thailand and the Bank of the Philippines cut interest rates, while the Bank of Indonesia remained on hold.

According to a Reuters survey released on Thursday, analysts turned bearish on most Asian currencies. The Indian rupee's bearish bet hit a record high in a year, as expectations that the Fed's interest rate cuts would weaken strengthened the dollar and overshadowed riskier Asian assets. According to a biweekly survey of 11 analysts, bearish bets on the Korean won, Philippine peso, and Indonesian rupee reached their highest point since July 25. Against the backdrop of weakening expectations of the Federal Reserve's sharp interest rate cuts and uncertainty about the US election, rising demand for the US dollar weakened investors' confidence in Asian currencies. Last week, the Indian rupee fell below 84, an important mark held by the Bank of India for more than two months. The recent surge in oil prices may increase India's import expenses, and the withdrawal of foreign capital from the Indian stock market is also putting pressure on the Indian rupee. The investigation was carried out before interest rate decisions by the central banks of Thailand, the Philippines, and Indonesia on Wednesday. The Bank of Thailand and the Bank of the Philippines cut interest rates, while the Bank of Indonesia remained on hold.