Yen Sees First Net Long Position Since February Amid Rate Hike Expectations

Speculators have shifted their stance on the yen for the first time since February, according to data from the Commodity Futures Trading Commission. For the week ending September 8, net non-commercial positions showed a net long position of 10,796 contracts in yen futures. This marks a reversal from the previous week's net shorts of 92,227 and is the first overall long reading since February 24.

The yen has experienced a surge this month due to expectations for accelerated rate hikes by the Bank of Japan and potential repatriation of assets.