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Banks chased vol larger as final week’s EUR/USD surge knocked out barrier trades
The selloff within the US greenback final week in opposition to the yen and euro pressured many international trade choices sellers to hurriedly purchase again costly hedges for trades that had been knocked out by the surge in spot and volatility.
“In euro/US greenback, 1.20 was an enormous psychological stage and plenty of hedge funds and company purchasers had obstacles round that. When it did hit 1.20, it was fairly an aggressive transfer and spot went as much as 1.2080. That was considerably harking back to the obstacles that obtained triggered on
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