Free Trial

Asia-Pac FX Options Turnover Well Ahead of Average

ASIAN MARKETS

USD strength remains evident across G10 but has stabilised a little over the past hour so - nonetheless USD/CNH continues to march higher, touching a new high at 6.7912 and just shy of last Tuesday's highs at 6.8106. This extends the bounce from last week's one-year low to around 0.75%.

Asia-Pac FX remains a focus, with persistent rallies in the likes of TWD, KRW capturing the attention of options markets. That remains the case at the beginning of this week, with KRW, TWD, JPY and CNY options turnover well ahead of average for this time of day.

This is particularly notable in USD/TWD, which has seen option notional traded at around 5x daily average volume ahead of the NY crossover, with solid demand for one-month calls largely responsible. Call strikes layered between 28.62 and 29.14 crossed in size just ahead of the European open.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.