Hedge funds increase their bets on RMB bullish options, aiming for a breakout above 7

currently, hedge funds are increasing their layout in the options market, indicating they believe there is further room for the renminbi to rebound against the US dollar. According to traders, there is an increasing demand in the market for options to profit from the appreciation of the renminbi. Derivative data from the Singapore Exchange (SGX) shows that investors are targeting for the renminbi to rise to 7 or stronger by the end of the year. Behind this bet is confidence in China's continued policy support and a shift in expectations for US interest rates.