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Yen sales by Japanese mom and pop investors this week exceeded professional traders’ bets against the currency on the Chicago Mercantile Exchange.

Net short positions on the yen against the dollar, or wagers Japan’s currency will fall, reached $1.1 billion among traders using borrowed funds on July 4, according to the Tokyo International Financial Futures Exchange. Based on estimates of the exchange’s market share, the total position of Japanese individual investors is about $19.15 billion, compared with $19.07 billion of bets by traders on Chicago’s market.

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