-- Currency markets are in full risk-off mode amid fears of a widening conflict in the Middle East, with traders rushing for safe havens in both spot and options.The dollar gained versus all Group-of-10 currencies except for the Swiss franc and the Japanese yen on Friday, after reports that Israel launched a retaliatory strike on Iran. The Bloomberg Dollar Spot Index rose for a seventh day in eight.Options also point to a rush for safe havens.
The developments fueled volatility in oil-linked currencies as crude briefly soared above $90 a barrel. The cost of hedging one-week moves on the Canadian dollar rose the most in 15 months on Friday, while Norwegian krone volatility headed for its second-biggest gain this year. Net Worth for Baby Boomers: How To Tell Whether You’re Poor, Middle Class, Upper Middle Class or Rich
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Currency Traders Turn to Options Market for Geopolitical HavensCurrency markets are in full risk-off mode amid fears of a widening conflict in the Middle East, with traders rushing for safe havens in both spot and options.
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