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Aug 11 - 05:55 AM

EUR/GBP - Huge EUR/GBP Option Expiry Hedges Help Stall Decline - For Now

By Richard Pace  —  Aug 11 - 03:38 AM
  • DTCC data flags 2 huge EUR/GBP FX option expiries at 0.8450 for Wed-Thurs

  • 1.1-billion euros Wed nL1N2PI0C7 and another 1.2-billion Thursday

  • Related delta hedging adding to support, but may also help limit recovery

  • Also worth noting 1-billion euros between 0.8500-20 expire Thursday

  • Fri break of major support/Apr low 0.8572 has opened more downside potential

  • GBP has been favoured over EUR on fundamental advantage

  • EUR/GBP hit new 18-month low at 0.8450 Tuesday, sellers touted low 0.85's

  • Related nL1N2PI0GG




For more click on FXBUZ


2 huge EUR/GBP FX option expiries at 0.8450 Click here

EURGBP=D3 Click here

Source:
Refinitiv IFR Research/Market Commentary

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