Hedge Funds Boost Bearish Yen Bets Amid Doubts Over Rally
- Leveraged funds increased net yen shorts last week: CFTC data
- Overseas funds share yen weakness views: Standard Chartered
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Hedge funds boosted bearish yen wagers to the highest level since April 2022 last week amid speculation a recent rebound in the currency will be short-lived.
Leveraged funds’ net yen shorts increased by 2,833 to 65,611 contracts as of Nov. 28, according to the latest data from the Commodity Futures Trading Commission. Japan’s currency appreciated almost 4% from a recent low of 151.91 per dollar set on Nov. 13 to 146.23 on Monday, the strongest since mid-September.