Hedge Funds Cut Yen Shorts After US-Japan Intervention

Hedge funds have significantly reduced their bets against the Japanese yen since the joint intervention by the US and Japan, according to data from the Commodity Futures Trading Commission.

The sum of contracts tied to leveraged funds' short bets on the yen declined 6.5% in the week ended August 11, reaching a total of 59,526.

This marks a more than halved reduction in short positions since the authorities coordinated their support for the yen around the turn of the month.