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Currency hedging volumes are slightly.......>

OPTIONS
OPTIONS: Currency hedging volumes are slightly lighter than usual Thursday, with
lower-than-average volumes in USD/JPY and EUR/USD outweighing higher volumes in
USD/CNY, NZD/USD and AUD/USD.
-One bright spot for hedging volumes is EUR/GBP, with just shy of $1.5bln of
contracts changing hands today, well ahead of the $600mln or so you'd expect to
see at this point of the session. Trading activity has been buoyed by what
appears to be a large EUR/GBP put spread, with DTCC showing E220mln 0.86 and
E220mln 0.88 put strikes traded on the same time stamp, expiring on Jan31. This
trade would have a break-even rate of approx. Gbp0.8730. 

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