CFTC data shows that speculators have increased their short positions on the dollar to the highest level since June.

According to data from the Commodity Futures Trading Commission as of the week ending February 10, leveraged funds have increased their bets against the US dollar to the highest level since June 2025. Currently, they hold approximately $19.9 billion in short positions, up from $17.4 billion the previous week. In late June of last year, short positions against the US dollar briefly exceeded $20 billion. At the same time, these funds have been reducing their short bets on the Japanese yen for the fourth consecutive week; this comes after the ruling Liberal Democratic Party, led by Prime Minister Naoto Kan, won a landslide victory in the elections and the yen subsequently strengthened. They have also been increasing their long bets on the Euro for the third consecutive week.