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Despite lacklustre volumes overall, GBP.....>
OPTIONS: Despite lacklustre volumes overall, GBP currency hedging is holding up
well, with GBP/USD and EUR/GBP both seeing higher-than-average volumes so far
Friday.
-The GBP/USD put/call ratio is relatively balanced, with tight expiries in
demand (many larger trades placed today expire well ahead of the end of
November). Calls expiring in early January eye 1.3445-55 strikes but puts
layered between $1.3050 and 1.30 have been particularly popular also.
-Conversely in EUR/GBP, the put/call ratio at 2.5 shows the popularity of GBP
upside exposure today, with markets taking a number of positions poised to
profit on a move below Gbp0.85. Brexit talks clearly key here ahead of what is
likely to be a busy weekend for UK press as the proximity to a touted Brexit
deal appears to be exciting journalists on both sides of The Channel.
To read the full story
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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.