Woofun AI reports that global portfolio managers' bearish sentiment toward the Japanese yen has reached its highest level since 2022, according to a Bank of America survey. Strategists Ralf Preusser and Adarsh Sinha noted on July 10 that concerns over Japan's fiscal and monetary policy outlook are outweighing expectations of currency market intervention.

The survey indicates that 40% of respondent traders hold a bearish view on the yen, an increase from 35% in June. Conversely, bullish sentiment declined to 10% from 12% as the US-Japan interest rate differential narrows.

Additionally, Commodity Futures Trading Commission data shows speculative leveraged funds held record-high net short positions on the yen at the end of June, marking the highest level since 2007.