Investing.com - The Investing.com weekly sentiment index published on Monday revealed that speculators scaled back their bullish bets on the yen in the week ending February 5.
According to the report, 50.1% of market participants held long positions in USD/JPY as of last week, rising sharply from 31.6% in the preceding week.
Meanwhile, 33.3% of investors held long positions in EUR/USD as of last week, down slightly from 34.3% a week earlier, 36.5% of investors were long GBP/USD, compared to 39.8% in the preceding week, while 47.3% of investors were long USD/CHF, up from 46.4% in the previous week.
Amongst the commodity-linked currencies, 49.3% were long USD/CAD, falling from 56.8% a week earlier, 40.9% held long positions in AUD/USD, compared to 36.5% in the preceding week, while 39.2% were long NZD/USD, down from 41.0% a week earlier.
The report also showed that 29.0% of investors were long the S&P 500, dropping from 41.6% a week earlier.
Elsewhere, 48.1% of market participants held long positions in gold futures last week, down from 53.9% in the preceding week.
A reading between 50%-70% is bullish for the instrument, a reading between 30% and 50% is bearish, a reading above 70% indicates overbought conditions and a reading below 30% indicates oversold conditions.
The Investing.com series of indexes is developed in-house. Each index measures overall exposure to major currency pairs, commodities and indexes, using data from futures exchanges and OTC providers on all long and short open positions.