Several yards (blns) of EUR/USD vanilla options roll off at 14:00 GMT. Often times we will see prices gravitate in tight ranges 20pips either side of large strikes as options-market makers hedge their remnant exposures (what they can’t offset in options market that must be hedged via cash).
Dealers note continued talk of SNB selling of EUR/USD into strength, helping keep the euro contained to the upside.
Selling of EUR/JPY and GBP/JPY has been quite heavy in recent trade.
