Leveraged funds' net short position on the Japanese yen reached its smallest size since Feb 2023, sparking a 9% decline in the US dollar against the yen in a month.
Leveraged funds' net short position on the Japanese yen has reached its smallest size since Feb 2023, per CFTC and LSEG data. This follows the unwinding of the yen carry trade, disrupted by Japan's rate increases, volatile yen, and expected US rate cuts. The yen's net short position reduction is the largest since Mar 2011, resulting in the US dollar falling 9% against the yen over the past month.
August 09, 2024
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