US Session: Orders and Options Watch

GBP: The dovish BOE MPC vote outcome, 2 members voted for more QE, hammered the British pound, stops below 1.5750-60 and 1.5700 were triggered and more stops below 1.5650 and 1.5640 are now in focus, however, fresh bids are likely to emerge further out at 1.5590-00 and 1.5550. On the upside, offers are now noted at 1.5700 and 1.5720-25, mixture of offers (from Asian CBs) and stops is now reported at 1.5765-70 but more selling interest should emerge around 1.5800-10 with stops building up above 1.5820.

EUR: The single currency has continued to trade within familiar range as focus is on the British pound, Asian CBs were seen bidding just above 1.3200 and more buying interest is seen at 1.3180-90 with some stops expected below 1.3180, however, fresh demand is likely to emerge around 1.3150 and 1.3120-30 with more stops placed below 1.3100. On the upside, offers are still noted from 1.3260 up to 1.3280 with mixture of offers and stops remains at 1.3290-00 and fresh sell orders from Middle East names are tipped further out at 1.3320-30 and 1.3350.

CHF: The greenback also locked in tight range against the Swiss franc and indicated orders: offers from Eastern European names at 0.9140-50 and bids from U.S. and Swiss names from 0.9100 down to 0.9080 should keep this trading band for the time being. More offers are reported at 0.9190-00 with bigger stops tipped above 0.9210 whilst on the downside, some stops are placed below 0.9080l and combinations of bids and stops are seen further out at 0.9050-60 and also 0.9000-10.

JPY: Dollar has continued to move higher throughout the day on active cross-selling in yen not only against major currencies bur also against exotics, offers at 80.20-30 were finally cleared and mixture of offers and stops at 80.50-60 (related to 80.50 option barrier) are now in focus but fresh offers are expected to emerge further out at 80.70-80 and 81.00. On the downside, bids are raised to 80.00 and also 79.75-80 with some stops placed below 79.60 and also 79.30 (bids above both levels).