Japan retail forex trades hit record $60tn for January-September

Contrarian bets against weak yen risk adding to downward pressure if unwound

20231016N Yen dollar

Many Japanese retail investors are shorting the dollar against the yen in anticipation of a rebound. © Reuters

AKIRA INUJIMA, Nikkei staff writer

TOKYO -- Foreign exchange trading in Japan by retail investors reached a January-September record of 8,957 trillion yen ($59.9 trillion) in 2023, thanks in large part to a slump by the yen that has spurred investors to bet on a rebound.

A preliminary report on over-the-counter trading released Monday by the Financial Futures Association of Japan showed the total for the first three quarters of the year topping the 2022 tally, reaching its highest level in comparable data going back to 2009.

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