# Long bets cut on Asian FX; Fed tapering fears, virus spike hits rupiah - Markets - Business Recorder

> Investors cut long positions across Asian currencies after a hawkish shift in the Fed's tone lifted the dollar, which posted its biggest monthly gain since November 2016 in June. Bearish bets on the rupiah, rupee and ringgit increased as virus variants kept several countries under strict curbs.

- Date: 2021-07-01 · published 2021-07-01T12:00:00.000Z
- Category: macro · region Asia · magnitude low
- Page: https://feedsoft.ai/events/46332-long-bets-cut-on-asian-fx-fed-tapering-fears-virus-spike-hits-rupiah-markets
- Commodities: [Indonesian Rupiah (IDR per USD)](https://feedsoft.ai/c/USDIDR.md), [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger dollar and renewed Asian virus restrictions raise local-currency costs for feed importers in the region and can dampen regional demand for commodities.

## Read by commodity

- DXY: bullish ▲
- USDIDR: bullish ▲
- USDINR: bullish ▲
- USDMYR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-04-21 | [Asian FX set for weekly losses as Fed rate hike bets weigh - Markets - Business Recorder](https://feedsoft.ai/events/36650-asian-fx-set-for-weekly-losses-as-fed-rate-hike-bets-weigh-markets-business.md) | +0.3% | +0.8% |
| DXY | 2023-12-05 | [Most Asian FX, stocks fall after traders reconsider Fed rate cut bets - Markets - Business Recorder](https://feedsoft.ai/events/32968-most-asian-fx-stocks-fall-after-traders-reconsider-fed-rate-cut-bets-markets.md) | +0.4% | -0.6% |
| DXY | 2024-10-24 | [Asian FX, stocks weaken on slower Fed cut hopes and potential Trump win - Markets - Business Recorder](https://feedsoft.ai/events/28143-asian-fx-stocks-weaken-on-slower-fed-cut-hopes-and-potential-trump-win-markets.md) | +0.1% | +1.9% |
| DXY | 2026-06-18 | [China's yuan weakens to one-week low on strong dollar, Fed hike bets weigh - Markets - Business Recorder](https://feedsoft.ai/events/8413-china-s-yuan-weakens-to-one-week-low-on-strong-dollar-fed-hike-bets-weigh.md) | +1.4% | +1.0% |
| DXY | 2023-06-30 | [Indian rupee to struggle on more Fed rate hike bets; US yields surge - Markets - Business Recorder](https://feedsoft.ai/events/35782-indian-rupee-to-struggle-on-more-fed-rate-hike-bets-us-yields-surge-markets.md) | -0.4% | -1.5% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40104296

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.