US Session: Orders and Options Watch

EUR: The single currency maintained a firm undertone throughout the day and stops above 1.3150 were triggered, however, option-related offers are still noted from 1.3170 up to 1.3200 with more stops placed above 1.3200 and 1.3250 option barriers. On the downside, buying interests from various parties (including Swiss names and Middle East accounts) are lined up from 1.3100 down to 1.3050 with stops placed below latter level but more bids are expected to emerge around 1.3000-10 and 1.2950 with bigger stops building up below 1.2930.

GBP: The British pound also remained bid in London session and demand quickly emerged on intra-day retreat to 1.5669 and more buy orders are located further out at 1.5620-30 and 1.5600 with stops placed below 1.5570 and bigger stops are reported below 1.5530. On the upside, offers are tipped from 1.5720 up to 1.5750 with more selling interest likely to emerge around 1.5770 and 1.5790-00 with more stops placed above 1.5800-10.

CHF: Persistent selling by model funds kept dollar under pressure against the Swiss franc and although some cross-related bids are reported at 0.9150, stops below 0.9130 (EUR/CHF below 1.2050) are in focus with mixture of bids and stops seen further out at 0.9100, however, larger buy orders from Swiss and French names are tipped at 0.9065-70 and also 0.9000-10. On the upside, offers from same names are still noted at 0.9210-20 and also 0.9250 with stops seen above 0.9315 and 0.9340-50.

JPY: The greenback slipped to an intra-day low of 77.41 on dollar’s broad-based weakness and stops below 77.50 were triggered, mixture of bids and stops at 77.30-35 is now in focus but more buying interest from Japanese investors should emerge from 77.00 down to 76.80 and also at 76.50-60 (for protection of option barrier at 76.50). On the upside, offers from exporters are reported from 77.80 all the way up to 78.20 with sizeable stops building up above 78.30-40.