Bears on Asian FX creep up on dollar strength
Indian rupee mostshorted currency among peers
Bullish bets on most Asian FX ease markedly

Oct 17 Reuters Analysts turned bearish on most Asian currencies, with short bets on the Indian rupee at a oneyear high, as expectations the Federal Reserve would cut rates less aggressively strengthened the dollar and took the shine off riskier Asian assets.

Short positions in the South Korean won , the Philippine peso and the Indonesian rupiah are at their highest since July 25, a fortnightly poll of 11 analysts showed on Thursday.

Bullish bets in the Chinese yuan , Singapore dollar , Malaysian ringgit , and Thailand39;s baht also reduced significantly from early October.

Rising demand for the dollar in the backdrop of waning expectations of outsized Fed rate cuts and uncertainties over the U.S. elections has weakened investor confidence in Asian currencies.

The dollar index , which measures the greenback against six major rivals, has risen 3 so far since Sept. 30. The index is currently trading at 103.57, a high last seen in late July.

In India, the rupee declined past 84 per U.S. dollar last week a level the Reserve Bank of India had defended for more than two months as the recent spike in oil prices could increase bills for the netimporter, and as the exodus of foreign money from the domestic equity market pressured the local unit.

Responses to the poll were received before central banks in Thailand, the Philippines, and…