After sharp moves higher yesterday, the........>

STIR: After sharp moves higher yesterday, the Eurodollar and short sterling

strips have seen some retracement today despite news that the US Treasury has

officially named China as a currency manipulator.

- Volumes in Eurodollar options (particularly for upside moves) have appeared to

be fairly heavy overnight. Most of the Eurodollar strip is 2-3 ticks lower than

yesterday's close.

- The short sterling strip has seen Whites, Reds and Greens move 1-2 ticks lower

generally, but moves in Blues have been smaller.

- The Euribor strip has continued to edge higher with Whites and Reds unch to

0.5 ticks higher, Greens generally 1 tick higher and Blues 1-2 ticks higher on

the day.