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US TSYS

SOFR,GC Rates Steady Monday

US EURODLR OPTIONS

Morning trades

GILT PAOF RESULTS

The PAOF for the 1.25% Jul-51 gilt was not taken up

SHORT-STERLING OPTIONS

SONIA call spread

YEN
YEN: The JPY has benefitted from the uncertainty caused by the Italian election
exit polls pointing to a hung parliament/populist parties outperforming &
additional trade tariff rhetoric from US President Trump, following Friday's
Kuroda-inspired strength. 
- Safe-have assets have continued to benefit this morning while analysts debate
the meaning of Kuroda's comments.
- While all were surprised by the BoJ chief's rhetoric on Friday, most suggest
that the normalisation comments could have been be tied as much to hope as they
were to outright belief.
- USDJPY hovers just below 105.50, while the JPY has also advanced vs AUD & EUR.
- Focus will now fall on Friday's BoJ MonPol decision as watchers will be on the
look out for any further clarity from the BoJ Gov. in the press conference that
follows the decision.
- Looking to the 10AM NY option cut there is some $2.66bln worth of USDJPY
105.50 option expires set to roll off the board on Monday, with $2.25bln worth
of the same strike set to roll off on Tuesday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com