Yen Sees First Net Long Position Since February

Speculators have turned net long on the yen for the first time since February, according to data from the Commodity Futures Trading Commission. The commission reported that non-commercial positions in yen futures rose to a net long of 10,796 contracts in the week ending September 8.

This marks a reversal from the previous week's net shorts of 92,227 contracts and is the first overall long reading on the yen since February 24.

The yen has seen significant gains this month, reaching a strong level against the US dollar. The dollar-yen rate reached 152.89 on September 8, its strongest point since February 17.