• EUR/USD subjected to post NFP volatility but drawn back to upper 1.17's

• Thursdays 8-billion euros of 1.1800 strike expiries proved magnetic prior

• It's therefore worth noting 3.3 billion euros 1.1770 strikes expire Monday

• Related hedging flows in quiet market could keep EUR/USD near the strike

• FX option implied volatility has fallen hard since NFP and stays heavy

• Low implied volatility consistent with low realised volatility/expectations

• Related - Huge AUD/USD amid FX option strike expiries - July 4
EUR/USD FX option strike expiries July 4-11

(Richard Pace is a Reuters market analyst. The views expressed are his own)