Data from the Commodity Futures Trading Commission (CFTC) for the week ending February 10 shows that leveraged funds increased their bearish bets against the U.S. dollar to the highest level since June 2025. They currently hold approximately $19.9 billion in short positions, compared to $17.4 billion the previous week. In late June last year, dollar short positions briefly exceeded $20 billion.

Meanwhile, these funds reduced their bearish bets on the Japanese yen for the fourth consecutive week. This followed a strong rebound in the yen after the ruling Liberal Democratic Party, led by Prime Minister Sanae Takaichi, secured a major victory in the election. They also increased their bullish bets on the euro for the third week in a row.

Adjusted net positions for leveraged funds are as follows: - Yen net short positions decreased by 8,164 contracts to 48,686 contracts; - Euro net long positions increased by 2,773 contracts to 17,308 contracts; - British pound net long positions increased by 2,908 contracts to 50,127 contracts; - Australian dollar net long positions increased by 6,559 contracts to 63,674 contracts; - New Zealand dollar net short positions increased by 188 contracts to 10,785 contracts; - Canadian dollar net short positions decreased by 3,746 contracts to 45,706 contracts; - Swiss franc net short positions increased by 853 contracts to 911 contracts; - Mexican peso net long positions increased by 1,570 contracts to 45,945 contracts.

Net position changes for asset management companies are as follows: - Yen net long positions decreased by 7,675 contracts to 25,808 contracts; - Euro net long positions increased by 11,043 contracts to 434,334 contracts; - British pound net short positions increased by 8,515 contracts to 78,360 contracts; - Australian dollar net short positions decreased by 5,609 contracts to 13,098 contracts; - New Zealand dollar net short positions decreased by 660 contracts to 29,222 contracts; - Canadian dollar net long positions increased by 8,857 contracts to 57,948 contracts; - Swiss franc net short positions increased by 1,298 contracts to 52,570 contracts; - Mexican peso net long positions decreased by 1,207 contracts to 87,146 contracts.