According to data from the Japan Financial Futures Association, retail traders' net short positions in the US dollar surged more than threefold from the previous month to 2.79 trillion yen, the largest in history since records began at the end of 2008. Although these bearish bets may also involve other currency pairs, the size of open positions related to the yen is large, indicating that they are mainly focused on USD/JPY positions. Markets generally speculate that the Japanese government may intervene again to boost the yen exchange rate.

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