Dollar Positioning Rises to $34.5 Billion as Saxo Flags Record Short SOFR Futures Bets

Aggregate net long U.S. dollar positioning increased 18% to $34.5 billion in the week ended June 22, based on figures from the CFTC and ICE Europe. According to NS3.AI, the positioning data may indicate a contrarian setup that could provide support for bitcoin. Separately, Saxo Bank said leveraged funds’ short positions in SOFR futures reached a record 2.97 million contracts.