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Jun 16 - 08:55 AM

GBP/USD - Big GBP/USD Hedge Flows May Show Renewed Brexit Concerns

By Richard Pace  —  Jun 16 - 07:15 AM
  • Option dealers note a size buyer of 1-year expiry GBP put options this week

  • These options would allow holder to sell GBP/USD at lower levels if required

  • 1-year 1.16 and 1.1750 GBP put strikes allegedly traded GBP 800-mln Mon-Tue

  • Typical option trade flows around GBP 30-mln, so these are big

  • This is only one bank and one flow, but could certainly be Brexit related

  • GBP bulls need more than a bit of oomph in current climate nL1N2DT0GN



GBP/USD implied volatility Click here

1-3-12-month GBP/USD risk reversals Click here

Source:
Refinitiv IFR Research/Market Commentary

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