Dollar/yen move sparks options buying

The dollar/yen spot rate has had a volatile few months, surging from four-year lows to hit an eight-month high in May. It’s meant traders have been rushing to cover short positions through the options market, while hedgers have been looking at strategies to protect them against further forex volatility. Saima Farooqi reports


Heavy volatility in the dollar/yen spot rate in the past two months has sparked a flurry of activity in the options market, as market participants have rushed to cover short dollar/yen positions and unwind directional plays. The yen surged to a four-year high, reaching ¥103.70 against the dollar on April 1, before retracing and breaking through ¥114 on May 10, the first time it has breached this level in eight months.

The volatility of the dollar/yen spot rate has taken many participants by

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here