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With GBP/USD touching fresh multi-week......>

OPTIONS: With GBP/USD touching fresh multi-week highs of $1.4230 (still >100
pips shy of YTD highs of $1.4345) it's unsurprising to see options volumes
ebbing above average for this time of day (circa $1.85bln vs. $1bln), but trade
volumes in AUD/USD, USD/JPY and EUR/USD are well below average, according to
DTCC data. Given the shorter week (Friday market holiday) this trend will likely
continue throughout the week, which may have a depressive effect on implied vols
until 1-week contracts begin to incorporate Apr6 Nonfarm payrolls release.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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