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Dollar/Yen Options Tad Firmer, Yen Puts In Demand

From efxnews.com

Dollar/yen options firmed slightly in Asia on Wednesday, due to buying from overseas players following the Bank of Japan's surprise credit easing move to expand its asset-buying program Tuesday. At 0200 GMT, benchmark one-month at-the-money dollar/yen options are at 7.96%/8.44% from 7.86%/8.34% late Tuesday in New York. "Buying demand for yen puts is strong, particularly among overseas players who are speculating the dollar/yen rate will rise further," said an option dealer at a Japanese bank. "But I doubt the spot rate will keep climbing as Japanese exporters are expected to sell dollars to lock in profits ... (full story)

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