Large 1.0400 option expiry helps to anchor EUR/USD

The size of the strike for the 10am ET NY cut is 1.5 billion euros

There are more large 1.0400 option expiries next week

These include a 2.2 billion strike for Thursday (Jan 2) nL1N3NP08E

1.0400 approximates to mid-point of range since Dec 18 drop on hawkish Fed

Fed rate hold expected on Jan 29; another ECB rate cut expected on Jan 30