A large 1.2200 EUR/USD option going out at the top of the hour along with a smaller 1.2235 strike.
There are also expirations in AUD/USD at 1.0195, cable at 1.5500 and a USD/CAD 1.0150 strike that may be at work.
S&P 500 up 11 points to 1346.
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Stocks higher but option-related buys may also be at work in risk rally
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