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Apr 19 - 04:55 AM

GBP/USD - Firmer GBP/USD Brings Some Huge Options In To Play

By Richard Pace  —  Apr 19 - 03:15 AM
  • GBP/USD higher as still hot UK CPI data bolsters May BoE hike expectations

  • GBP/USD reaches 1.2468 before running in to sellers - maybe option related

  • Huge £803-million 1.2450 strikes expire 10-am New York/3-PM London Weds

  • Also 1.2500 strikes expire on £400-million. Could have bearing on FX price

  • Related cash hedging can often attract spot to strike as the cut-off looms

  • Big strike expiries at 1.2350 Thur/Fri can help to underpin any FX setbacks

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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