“Uncertainty is an uncomfortable position. But certainty is an absurd one.”
Commentary & Analysis
Specs increasingly bearish on yen. Are they wrong?
Based on the positioning in Japanese yen – US dollar futures, as measured by the weekly Commitment of Traders Report (COT), speculators are increasingly bearish about the prospects for the Japanese yen as you can see from the chart below:
Net short positions for speculators has grown to 112k contracts based on the latest COT report; the biggest short positioning since late June 2015.
Given the considerable weakness in the US dollar lately, likely because of the collapse of President Trump’s Agenda and ongoing re-rating of global central bank rate hiking campaigns relative to the US Fed, why would so many become bearish on the yen? READ MORE...