# Asia FX bears retreat after less aggressive start to Trump’s tariff plans- Reuters poll

> Short bets against the Chinese yuan, Taiwan dollar and Thai baht were lower than two weeks earlier, according to a Reuters poll of 11 respondents. Many investors had expected tariffs among the executive orders Trump signed in his first days in office.

- Date: 2025-01-23 · published 2025-01-23T12:00:00.000Z
- Category: policy · region Global · magnitude low
- Page: https://feedsoft.ai/events/9602-asia-fx-bears-retreat-after-less-aggressive-start-to-trump-s-tariff-plans
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [Thai Baht (THB per USD)](https://feedsoft.ai/c/USDTHB.md)

## Why it matters

Reduced bearish positioning in Asian currencies reflects a less aggressive tariff start than feared, modestly easing pressure on US agricultural export expectations.

## Read by commodity

- USDCNY: bearish ▼
- USDTHB: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDCNY | 2025-01-21 | 1 | -0.7% | -3.6 | Trump's less aggressive start on tariffs led to fewer short bets on the yuan, which supports yuan strength, though the poll came out after the move. |
| USDCNY | 2025-01-24 | 5 | -1.2% | -3.0 | Smaller short bets on the yuan after a milder start to Trump's tariff plans reduced depreciation pressure and supported yuan strength. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2022-09-26 | [China acts to rein in yuan slump, poised to raise FX risk reserve ratio By Reuters](https://feedsoft.ai/events/7212-china-acts-to-rein-in-yuan-slump-poised-to-raise-fx-risk-reserve-ratio-by.md) | -0.2% | +1.9% |
| USDCNY | 2025-02-28 | [COMMENT: PBoC - Maintains CNY stability after additional 10% tariff](https://feedsoft.ai/events/26295-comment-pboc-maintains-cny-stability-after-additional-10-tariff.md) | -0.5% | -0.3% |
| USDCNY | 2022-09-06 | [China’s yuan rebounds from 2-year low after PBOC cuts FX reserve ratio - Markets - Business Recorder](https://feedsoft.ai/events/12271-china-s-yuan-rebounds-from-2-year-low-after-pboc-cuts-fx-reserve-ratio-markets.md) | +0.4% | +3.1% |
| USDCNY | 2022-10-26 | [Chinese state banks sold dollars to support yuan late on Tuesday - sources \| Reuters](https://feedsoft.ai/events/6937-chinese-state-banks-sold-dollars-to-support-yuan-late-on-tuesday-sources-reuters.md) | +0.1% | -1.5% |
| USDCNY | 2017-09-10 | [China's yuan slips, rally pauses after relaxation of FX outflow curbs - The Business Times](https://feedsoft.ai/events/9411-china-s-yuan-slips-rally-pauses-after-relaxation-of-fx-outflow-curbs-the.md) | +1.1% | +2.7% |

## Sources

- reuters.com: https://www.reuters.com/markets/asia-fx-bears-retreat-after-less-aggressive-start-trumps-tariff-plans-2025-01-23/

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