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Dollar/Yen Options Rise; Intervention Eyed
Dollar/yen currency options rose in Asia on Wednesday as the spot's recent downward trend raised expectations among some participants for potential yen-selling intervention by Japanese authorities. One market participant bought a one-month dollar-call/yen-put options contract at a striking price of Y78.50 with an implied volatility of 9.55%, another Tokyo options dealer said. The notional value is unknown. "Until yesterday, buying interest was stronger for downside hedges, but upside hedges are also being sought today," the bank dealer said. Still, he said the dollar's recent downward momentum against the yen has ... (full story)
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