US Session: Orders and Options Watch
EUR: Although the single currency edged higher again and some stops above 1.3270 were tripped, offers are still noted at 1.3280 with mixture of offers and stops remain at 1.3290-00 (related to 1.3300 option barrier), more selling interests should emerge ahead of next barrier at 1.3350. On the downside, bids from Asian sovereign names are lined up at 1.3245-50 as well as 1.3210-15 with stops building up below 1.3200 and further out below 1.3150.
GBP: The British pound slipped to session low of 1.6191 in London morning in part due to the release of soft UK manufacturing PMI data, stops at 1.6200-10 were triggered, however, bids from Swiss bank, Middle East and Asian names quickly emerged and lifted the pair back above 1.6200. At the moment, bids from same parties are still noted at 1.6190-00 and further out at 1.6160 with stops building up below both levels. On the upside, option related offers are located at 1.6250 (1.6250 NY cut) and more selling interests should emerge around 1.6275-80 and 1.6300 with stops placed above 1.6310.
CHF: The greenback finally dropped below 0.9050 for the first time in one month and although some stops were triggered, bids from official names contained dollar's downside so far but stops below 0.9040 are still in focus, however, more buying interests remain at 0.9020 and 0.9000. On the upside, offers remain at 0.9070-75 and 0.9090-00 with stops building up above 0.9100, followed by mixture of offers and stops located at 0.9130-40.
JPY: Dollar rebounded from intra-day low of 79.64 before finding support there and has rebounded in European session but offers are still noted at 79.95-00 and 80.20 with mixtures of offers and stops remain at 80.50 and 80.85-90. On the downside, bids from semi-official names and Japanese investors are reported at 79.50-60 with stops placed below barrier at 79.50 and fresh demand should emerge around 79.20-30 and above next barrier at 79.00.