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Another day, another decade high printed...>

CHINA FX
CHINA FX: Another day, another decade high printed in USD/CNY overnight, helping
underpin USD/CNY options volumes Wednesday ($6.8bln traded so far, over double
the volume you'd expect to see at this point of the session).
Conversely to the recent trend, puts have been more popular than calls today,
with strikes as low as Cny6.50 crossing screens (and in size). Most trades eye
12m expiries, but show some see little risk of the break above Cny7.00 being
overly long-lived.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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