The yen carry trade blow-up is soo early August. But the damage it caused is still to fully emerge. A good clue on the severity came out from the Commodity Futures Trading Commission on Friday.
The US regulator collects weekly data on positioning in various currency futures contracts, broken down by type of reporting entity. It’s obviously not comprehensive — and offsetting positions can radically alter the picture — but the CFTC’s “non-commercial trader” category is a decent gauge of overall investment fund positioning in various financial markets.
Data released on Friday evening show a pretty chunky shift in Japanese yen futures.
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