The bearish dollar bet quadrupled from a month earlier and marks the largest net short position since records began in 2008, underscoring unusually one-sided positioning.
Japanese retail investors’ net short dollar positions have reached a record $17.2 billion, a bet against the U.S. currency that was described as four times larger than a month earlier. The position is the biggest since records began in 2008, signaling that retail traders in Japan have built an unusually heavy consensus view against the dollar. Such crowded positioning can draw attention from contrarian investors, who often look for reversals when a trade becomes heavily one-sided.