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Despite the recovery in most major..........>

OPTIONS
OPTIONS: Despite the recovery in most major currencies against the USD today,
options volumes have been somewhat lacklustre. EUR/USD, USD/CNY and USD/JPY
options trading has been well below average for this time of day. AUD/USD and
GBP/USD volumes have been broadly inline, however.
- GBP/USD risk reversals have been rallying sharply in recent days (alongside
somewhat bullish Brexit headlines) and is also evident in the demand for GBP/USD
calls today: call trades outnumber puts by over 2 to 1. $1.29 call strikes have
been particularly popular with particularly tight expiries - many call strikes
expire within the next week.

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