More than EUR 3-billion EUR/USD FX option expiries nearby Wed-Fri

Wed EUR 1.1-billion 1.1850-75, Thurs 1-billion 1.1860, Fri 1-billion 1.1850

Those with exposure typically trade cash around strikes to neutralise risk

Can help keep spot rate nearby - especially as flows lighten in to U.S. hol

EUR/USD options just above recent crisis lows - consistent with range trade

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