In 1991, Dole helped Bair get appointed to the Commodity Futures Trading Commission, which regulates commodity futures and option markets.

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While physical demand was firm, exchange-traded funds saw hefty outflows and futures and option markets participants had low net-long positions on the Comex exchange.

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Gensler will be in charge of the CFTC, an independent agency created by Congress to regulate trading in the commodity futures and option markets.

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This money, called the margin, is roughly 4.5% of the value of the futures contract on which the option is written.

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An option on a futures contract is the right, but not the obligation, to buy or sell the underlying security at a particular price within a specific time.

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However, Commodity Futures Trading Commission data and option volumes (currently 50% lower than at the height of the crisis last year) indicate that the market is not positioned for an intense EUR sell-off just yet.

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These give the owner of the option the right to buy the futures contract within a certain time frame at a preset price.

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