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Dollar/Yen Options Rise Amid Expectations Of Potential Intervention
Dollar/yen currency options rose in Asia on Thursday as demand for upside hedges started to grow in addition to demand for downside hedges buoyed by the spot's recent downward trend. Benchmark one-month at-the-money dollar/yen volatilities were 8.20%/8.60% from 8.20%/8.55% late Wednesday in New York. "For the short-term, some are interested in buying upside hedges" amid expectations of potential yen-selling intervention by Japanese authorities, an options dealer at a major Japanese bank said. A senior Japanese government official told Dow Jones Newswires earlier in the day that even though the U.S. currency has held ... (full story)
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