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Euro Options Up As Europe Crisis Seen Worsening
Tokyo investors stocked up on hedging contracts against sharp falls in the euro on Wednesday as they speculate that the European debt crisis will only get worse. Bonds of European nations were sold off Tuesday, and currency traders in Asia said the euro will likely face downward pressure as investor sentiment keeps worsening. The selloff hit bonds issued by triple-A nations such as France and Austria, indicating investor worries about some of the strongest European economies. Many options traders in Tokyo purchased euro-put contracts, which would make money if the euro declined sharply. Some investors bought two-week ... (full story)