Options signal yen volatility spreads at most extreme levels
Traders are snapping up options on Japan's currency amid an 11 percent slide over the past six months and a Bloomberg model of option prices signals yen options volatility spreads at the most extreme levels.
The yen surged in Asia trade yesterday as Japan upgraded its nuclear emergency to a maximum seven on an international scale of atomic crises, as more aftershocks rattled nerves, dealers said.