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EUR/GBP hedging trades have been in.........>

OPTIONS
OPTIONS: EUR/GBP hedging trades have been in demand from the off today, with
EUR/GBP puts the most popular (put/call ratio so far today sits at 1.73). Larger
trades eye put strikes rolling off in early December at Gbp0.8650 and Gbp0.8850.
This is reflecting in continued pressure on EUR/GBP risk reversals contracts:
EUR/GBP 3m riskies have pulled lower since touching a cycle high in early
October.
Elsewhere, options trades are more lacklustre, with low EUR/USD and USD/CNY
hedging volumes (largely due to HK market holiday) compensated by slightly
higher USD/JPY and USD/CAD trades so far.

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