Japanese Yen Forex Speculator positions drop to lowest level in 3 Months

By CountingPips – Weekly COT Report

Japanese Yen:

JPY: Japanese yen speculative contracts decreased sharply last week to decline to the lowest level since December. Japanese yen positions dropped to a total of -93,763 net contracts reported on March 12th following a total of -73,351 net short contracts on March 5th. This is a weekly decrease of -20,412 positions from the prior week.

Yen positions are at their lowest point since December 11th 2012 when short positions equaled -94,401 contracts.

March 12th 2013 Cot Report Data

Total Open Interest: 288,474
Non-Commerical Large Traders Net Positions: -93,763
Commercial Traders Net Positions: +133,865
Small Traders Net Positions: -40,102

 

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The Commitment of Traders report is published every Friday by the Commodity Futures Trading Commission (CFTC) and shows futures positions data that was reported as of the previous Tuesday (3 days behind).

Each currency contract is a quote for that currency directly against the U.S. dollar, a net short amount of contracts means that more speculators are betting that currency to fall against the dollar and a net long position expect that currency to rise versus the dollar.

(The graphs overlay the forex spot closing price of each Tuesday when COT trader positions are reported for each corresponding spot currency pair.)

See more information and explanation on the weekly COT report from the CFTC website.

 

Article by CountingPips.com – Forex News & Market Analysis