FX.co ★ Speculators Deepen Net Short Bets on Swiss Franc as CFTC Positions Widen

Data from the U.S. Commodity Futures Trading Commission (CFTC) show that speculative traders increased their net short positions in the Swiss franc, with CHF speculative net positions falling from -32.2K to -35.4K contracts as of 16 December 2025.

The move signals a further deterioration in sentiment toward the Swiss currency among leveraged funds and other speculative participants. The growing net short stance suggests market participants are positioning for relative CHF weakness versus its major counterparts, or at least see limited upside in the near term.

While the data do not provide information on the drivers behind the shift, the latest reading underscores a continued bias against the franc in futures markets, extending the negative positioning seen in the previous report.