Investors escape Polish FX options
WARSAW - More than 50% of the 9 billion zloty ($2.6 billion) foreign exchange options positions held by Polish corporates have been closed out, with support from the Polish government, according to Barclays Capital.
"Based on our discussions in the market, the options positions have dropped to less than half the 9 billion zloty estimate given by the regulators. [Government] intervention helped investors get out of their positions," said Koon Chow, senior foreign exchange strategist at BarCap in
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