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USD/JPY's run up towards Y113 (and the......>

OPTIONS
OPTIONS: USD/JPY's run up towards Y113 (and the 200-dma) appears to have helped
options volumes somewhat, with USD/JPY total traded notional topping $8.5bln -
well ahead of the $6.8bln average for this time of day. This counters lower than
normal volumes in EUR/USD, USD/CNY and GBP/USD today, however EUR/GBP trading
looks strong so far today.
USD/JPY's put/call ratio sits at exactly 1, however the larger notional trades
today are largely USD/JPY puts. Put strikes are layered between the Y112.25 to
Y106.00 levels and are scheduled to roll off in mid-December.
In volatility markets, GBP/USD risk reversals continue to recover after printing
the lowest level since the 2017 General Election late last week and now sits at
1.2650 vol points in favour of puts. 
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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