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Pair Makes Progress Through Wednesday High Ahead of NY Crossover

EUR
  • EUR/USD's gradual grind higher into the Thursday crossover has helped EUR/GBP stabilise above the session lows, with 0.8884 holding as the session low.
  • Volumes are generally light, but picked up modestly on the way through the Wednesday high (1.0574). Despite strength into NY hours, the pair remains considerably lower on the week, with 1.0610 marking the 50% retracement of the Tuesday - Wednesday downleg.
  • Larger options rolling off at the NY cut today include E1.8bln at 1.06, and E1.2bln across 1.0570-75

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