Yen Turns Net Long as Currencies See Major Positioning Shifts
The latest CFTC report shows a significant shift in positioning for several major currencies and commodities. Japanese Yen (JPY) net positioning saw a massive improvement of around 103K contracts to a net long of 10.8K contracts, marking the biggest weekly increase since early August. This is consistent with the stronger positioning, as USD/JPY collapsed to the mid-153.00s.
The Canadian Dollar (CAD) also saw a significant shift, with non-commercial net shorts narrowing by around 37.6K contracts to 70.5K contracts, the strongest weekly improvement since mid-December 2025. This is accompanied by a modest fall in USD/CAD, which revisited the 1.3800 neighbourhood.
Speculative buying increased for WTI and Gold, with net longs rising to 136.6K contracts and nearly 232K contracts respectively. However, Gold exposure reached the 98th percentile, leaving it more vulnerable to an unwind if prices reverse. The Euro (EUR) and British Pound (GBP) saw weakening positioning, despite firmer currencies.