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Dollar/Yen Options Down, Intervention Concerns Ease
The price of insuring against dollar volatility against the yen declined slightly in Tokyo Friday, as dealers said the Japanese government appeared unlikely to intervene, at least for now. All bets are off if the greenback drops sharply, though, they said. The Ministry of Finance could also try to take advantage of the element of surprise by intervening when expectations for action have eased, the dealers said. Due to the continued concerns, benchmark one-month at-the-money dollar/yen volatilities fell only slightly to a mid point of 10.17% from 10.25% Thursday in New York. "Regardless of what G-20 countries might ... (full story)
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