Currencies
Traders Spooked by Intervention Risk Trim Record Yen Shorts
- Real money, hedge funds reduced yen shorts: CFTC data
- Data suggest Japan intervened to support currency this week
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Traders edged back from record bets on yen weakness this past week, in a period that included a likely bout of intervention by Japanese officials to support their currency.
Leveraged funds and asset managers now hold roughly a combined 174,500 contracts tied to bets the yen will fall in the weeks to come, according to the latest data from the Commodity Futures Trading Commission, covering the week through Tuesday. That’s a slight pullback from the week before, when speculative traders held a historically high level of yen shorts.