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OPTIONS: USD/JPY Slide Slows, Leaving Spot Pinned Between Strikes

OPTIONS
  • With the JPY short squeeze slowing into the Thursday close, FX options expiries could play a greater role given the more sanguine currency market so far this morning. EUR/USD holds just above a series of decent-sized strikes layered between 1.0800-35, and larger at the 1.09 handle: $1.0800(E620mln), $1.0825-35(E691mln), $1.0900(E832mln), while USD/JPY is inching away from $1.1bln of strikes between Y153.91-00, and toward $1.4bln at Y155.30-50. 
  • Other G10 FX pipelines are more muted today, with GBP/USD unlikely to make much progress toward GBP814mln rolling off at $1.2970.

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