• EUR/USD option volatility premiums easing since U.S. CPI data

• Premium for EUR put/USD call (downside options) was falling, but finds floor

• Dealers note less demand for topside protection from option end-users Monday

• Topside RKO a popular trade early Jan - profits from limited EUR/USD gains

• Those options leave barriers from 1.10 to add to EUR/USD headwinds

• Price action now consistent with n-term FX consolidation and topside caution

  
  

  
  

  
  

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