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Currency swings curtail options strategies

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PLENTY OF UNCERTAINTY: Of all the major currencies tracked by Bloomberg, Britain's pound has the highest implied volatility relative to its range during the past three months.

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THE highest currency-market volatility in more than four years is depriving investors of a cheap way to protect against risks in financial markets - including Britain's referendum on its membership of the European Union (EU).

A JPMorgan Chase & Co index of swings in

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