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FX hedging volumes somewhat lacklustre......>

OPTIONS
OPTIONS: FX hedging volumes somewhat lacklustre today, with the absence of
China, Japan and South Korea due to market holidays not helping matters.
EUR/USD, USD/JPY and GBP/USD trades unsurprisingly below average and stronger
volumes in USD/INR, EUR/JPY and USD/HKD not managing to counteract the volume
slid among major pairs. GBP volatility markets continue to ebb higher following
Brexit headlines this weekend: GBP/USD 1m implied vol opened higher and have
held the majority of the gains throughout the session. Today's high marked the
highest 1m implied volatility for the pair since late February and the vol spike
that came alongside the equity product meltdown in the US.

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