Japan’s CFTC data show JPY non-commercial net positions moved sharply towards neutral in the latest reporting period. The net short position narrowed to ¥-45.5K, compared with a previous reading of ¥-163.4K.
Reduction in Bearish Yen Positioning
The change implies a reduction in bearish positioning against the yen over the week.
Outlook for Speculative Positioning
While the market remained net short, the scale of that stance eased materially, pointing to less downward pressure in speculative positioning as captured by the CFTC report.