--Eleni Himaras
Mathieu ZaradzkiHedge funds have been buying up the five-year calls on the U.S. dollar against the yen in recent weeks with strikes around JPY115, according to Mathieu Zaradzki, an fx strategist for Barclays Capital in Paris. The trades were driven by the view that the U.S. dollar will appreciate over the long-term as investors move away from risk aversion, combined with longer term options being priced cheaper than shorter term options. ....