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Currency hedging markets seeing slightly....>

OPTIONS
OPTIONS: Currency hedging markets seeing slightly lighter trading than your
average session, with higher USD/CNY and AUD/USD nominal volumes countered by
below average activity in EUR/USD, USD/JPY and GBP/USD.
-USD/CNY hedging is picking up ahead of the G20 meeting in Buenos Aires this
weekend, where US Pres. Trump and Chinese Pres. Xi are scheduled to meet on the
sidelines to discuss trade tariffs and the state of relations - with some
markets positioning for a positive outcome. USD/CNY puts have been better-bought
today, indicating that the options market may be turning more positive on the
CNY, with USD/CNY put strikes at Cny6.94, 6.90 and 6.88 particularly popular.
Trades coincide with USD/CNY 1w implied vols adjusting sharply higher for the
fifth session to near the highest levels of November.
-The popularity of AUD/USD calls today mimics the sentiment, with the put/call
ratio down at 0.71 for the Wednesday session. Coinciding with this move, AUD/USD
1m risk reversals are touching the highest level in favour of calls since early
August.

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