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Greenback Bounces


JGB, ACGB Supply Eyed

OPTIONS: Currency hedging volumes are standing up surprisingly well despite the
absence of US markets today (it's likely trading activity will peter out as the
day goes on), with higher than average volumes in EUR/USD, USD/INR and GBP/USD
helping counter poor activity in USD/CNY and USD/JPY.
-EUR/USD puts have been better-bought, with markets buying $1.1040 and $1.1180
puts in size throughout the morning, eyeing expiries in mid-March. The puts are
bought as 1m risk reversals sit close to multi-month lows, having fallen to
levels most skewed toward puts since late November.