October Surprise Puts U.S. Vote Back Atop Currency Risk List
- Dollar-yen swings for 2-week options climb before Nov. 8 vote
- Campaign vies with central-bank meetings as market landmine
Comey Chaos: Who’s Spinning It Better?
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The U.S. presidential election is back at the top of currency traders’ list of worries.
After the revelation last week that the Federal Bureau of Investigation is reopening its inquiry into Hillary Clinton’s use of private e-mail, implied volatility in two-week options in the dollar-yen exchange rate timed to the Nov. 8 vote climbed to the highest levels since September, according to data compiled by Bloomberg. The foreign-exchange market had been looking past the campaign, putting greater emphasis on global central-bank meetings in December, when the Federal Reserve is forecast to raise interest rates.