Speculators turn net long on yen for first time in months
Speculators turned net long on the Japanese yen for the first time since February following a surge driven by expectations of Bank of Japan rate hikes. CFTC data showed net non-commercial positions reaching 10,796 long contracts in early September.
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Speculators flipped to a net long position on the yen of 10,796 contracts during late evening on Friday, according to Commodity Futures Trading Commission data. That reverses 92,227 net short contracts from the prior week. It marks the first net long reading since February 24 for Japan.
