Market prices tend to move towards the strike price at the time large
vanilla options (ordinary put and call options) expire. It happens (all
things equal) as each side of the deal seeks to hedge its risk
exposure. This action is most noticeable ahead of 10 a.m. New York time
when the majority of options expire (2 p.m. GMT).
Here are the key options expiring today:
EUR/USD: $1.2450, $1.2500, $1.2800;
USD/JPY: 79.50, 80.00;
EUR/GBP: 0.8060;
AUD/USD: $1.0000, $1.0100.
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