It's been a less than impressive response to May's Brexit speech 2 May
May's speech and Q&A now over. Hurrah. I can give my fingers a rest!
Lots of hot air but not a lot of fresh inspiration from May so it's been an understandably soggy reaction for pound pairs as focus turns to large option expiries and the EU response.
GBPUSD currently down to 1.3767 with large interest at 1.3800 which has been capping rallies all day while EURUSD has large option-related buy interest to help EURGBP up to 0.8940 again after holding around the 0.8920 area I highlighted in an earlier post.
GBPJPY is down at 145.20 but tempered by USDJPY finding a little money coming off the table and bouncing to 105.45 from 105.25.
Nothing else in play right now on the option front.
Remember these are vanilla options and in play right up until expiry even if breached in the meantime unlike barrier options which cease to be once broken. Current barrier options exist on:
- EURUSD: 1.2600
- USDJPY: 105.00 104.00
For more info on how to use this all data, please refer to my post here.
They think it's all over at Mansion House. It is now.
