US Dollar Bulls Dominate Markets as Yen Bears Pile In

US dollar bulls have tightened their grip on the market, pushing net-long exposure to a fresh 10-year high of $42.6 billion, according to the latest COT report.

This marks a significant increase from last week's numbers, with a $4.1 billion boost in bullish bets against the greenback.

In contrast, bearish bets against the Japanese yen have been piling up, with traders adding 44.5k net-short futures contracts last week alone.

The US dollar index (DXY) remains in a solid uptrend, and some analysts believe it may be on track to test 102 if the Fed strikes a hawkish tone this week.