According to the U.S. Commodity Futures Trading Commission (CFTC), leveraged funds reduced net short yen positions during the week ended May 5 following Japanese authorities’ intervention to support the currency. The funds now hold 61,340 yen net short contracts worth approximately $4.9 billion, marking the lowest level in nearly a month. Asset managers also trimmed 13,839 short positions, bringing their holdings to 10,653 contracts. “Given intervention risks and strong official warnings, chasing short yen near the 160 level has become unattractive,” said Stefan Rittner, senior portfolio manager at Allianz Global Investors.
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