Protection against a dollar plunge is the costliest since 2009
Nervous currency traders are paying the most in eight years for insurance against a plunge in the dollar. With the Federal Reserve expected to hold interest rates steady Wednesday, traders in the $5.1-trillion-a-day currency market are paying an added premium for the first time since October 2009 on options to protect against an extreme decline in the dollar against the euro over a six-month tenor.
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