A macro hedge fund spun out of Millennium Management LLC is building bullish positions in the Indonesian rupiah and Singapore dollar, betting that measures adopted by the two countries could boost their currencies. The Indonesian currency may appreciate as much as 4% this year, bolstered by its drive to become a regional electric vehicle hub, said Jimmy Lim, chief investment officer of Modular Asset Management, which manages nearly $1bn of assets. In other trades, the Singapore-based firm is counting on the Singapore dollar to strengthen on a faster vaccine rollout, while the Thai baht and Philippine peso will weaken. Lim is expecting Indonesia to see a production boom in battery-garade nic
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