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MNI's FX Options Monitor finds: -The........>

OPTIONS
OPTIONS: MNI's FX Options Monitor finds:
-The Resilience of PM May triggered a wave of GBP hedge demand:
The amendment votes this week helped underpin demand for GBP hedges on both
sides of the price. Total notional traded across EUR/GBP and GBP/USD options
(both puts and calls) rose sharply.
-USD/JPY options cognizant of downside risks:
Some of the larger and more notable options changing hands this week including
trades consistent with a bearish risk reversal structure, selling Y110 calls and
buying Y105 puts expiring in just over 2 months for a total notional of over
$500mln.
-EUR implied vols continue to look under-priced:
Weidmann this week pressured EUR implied vols further, stating it would take
years to normalise Eurozone monetary policy, but the rising risks of a
disorderly Brexit and further deterioration of the peripheral Eurozone economy
may mean these contracts are under-priced.
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