Yen Speculators Turn Net Long for First Time Since February

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

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