US Session: Orders and Options Watch

EUR: Although the single currency continued to find demand from Middle East names and edged higher to 1.3052, once again euro ran into a wall of heavy offers below yesterday's high of 1.3063, price quickly retreated from there and bids at 1.3000-10 were filled and stops below 1.2950 were also triggered, more buying interests are reported at 1.2930 and also 1.2900 with bigger stops placed below 1.2850. On the upside, offers from U.S. investment banks are lined up at 1.2990-00 and also 1.3050-60 with stops building up above 1.3070-80 and 1.3100 (option barrier).

GBP: The British pound retreated just ahead of the release of UK BOE meeting minutes and GDP data on profit-taking, however, the release of better-than-expected GDP data lifted sterling from day's low of 1.5531 back to 1.5600. At the moment, offers from UK clearer and U.S. investment banks are reported from 1.5600 up to 1.5630 with stops building up above 1.5630 and 1.5650. On the downside, bids from Middle East names are still noted from 1.5550 down to 1.5530 with and mixtures of bids and stops are located at 1.5515 and 1.5500.

CHF: The greenback also rebounded against the Swiss franc on dollar's broad-based strength and offers at 0.9310-20 were absorbed but more selling interests are reported at 0.9340-50 and further out at 0.9390-00 with stops building up above 0.9410 and 0.9450. On the downside, cross-related buying interest remains at 0.9260-70 and mixture of bids and stops is located further out at 0.9230-40 and more buy orders are tipped further out at 0.9200.

JPY: Dollar continued to move higher in part due to cross-selling in Japanese yen on soft Japanese data and U.S. names were seen buying the pair actively since yesterday, mixture of offers (1 yard) and stops at 78.25-35 is now in focus but more selling interest from exporters is expected to emerge further out at 78.50-60 with combination of offers and stops seen at 79.00-10. On the downside, bids from Japanese investors and U.S. names remain at 77.60-70 and also 77.30-35 with stops building up below 77.00 and 76.80, however, more option defensive buy orders remain at 76.50-60.