We've just had another look above 121.00 for the second time this morning and once again failed to hold
Good demand between 120.60-80 though which has held so far and there's now talk of sizeable stop-loss buy orders if 121.30 breached with more offers seen into 121.50
121.00 expiry today for USD 550m. Don't forget in GMT terms they roll off at 14.00 for the time being with the US clocks going forward one hour. Europe change on 28/29 March
Other expiries this week include
Tues - 120.50 (USD 1bln)
Wed- 121.00 (USD 470m) 120.50 (USD 708M) 120.00 (USD 1.3bln)
Currently 120.94 and delicately poised as the US session gets underway
