Merrill's Currency Warrants Spark Interest More Will Surely Follow As Dollar Climbs

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Currency warrants, which flourished several years ago, are making a comeback now that the dollar is shooting higher. Merrill Lynch Capital Markets sold $3 million Deutsche mark warrants that started trading on the American Stock Exchange April 16 and Ben Krauss, senior vice president at the exchange says, "I'll bet dollars to donuts that we'll see more than one or two by the summer."

Currency warrants, which are essentially bite-sized long dated currency options, first started trading at the