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Volumes somewhat quiet for a second.........>

OPTIONS
OPTIONS: Volumes somewhat quiet for a second consecutive session, with the
exception of EUR/CNY, with DTCC trade volumes surging well above average
courtesy of a single large EUR/CNY one-month put, totalling over EUR210mln and
positioned to profit on a move below 7.9671. The next largest trade is just over
a tenth of the size, at just EUR 27mln.
Elsewhere, implied vols are generally rising: EUR/NOK vols have extended further
ahead of this week's expected 25bps rate hike, showing above 7 vol points for
the first time since late May. See POV: OPTIONS MARKETS FAVOUR A STRONGER NOK
OVER THE SHORT-, MEDIUM-TERM posted yesterday for more information.
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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