The curve eased from the overnight highs, 1-wk dropped 0.3% to close at 6.15/6.45 - but this was still up some 0.5-0.6% from last night"s NY close, and reflected strong demand in the short dates where apparently some E3bn traded between 1 to 3-wks. NY has taken the rest of the curve down slightly, 3-mth closed at 6.7/6.95 down 0.1% and 6-mth closed at 7.25/7.45, up 0.05% on the day, and last night"s NY close. TRADES - In addition to the short dates mentioned above, 1-mth traded at 6.6% in an estimated E500mn. BARRIERS -reside at 1.2600*, 1.2850*, 1.2950, 1.3000, 1.3015, 1.3050, 1.3100, 1.3200, 1.3300, 1.3350, 1.3400, 1.3500, 1.3600, 1.3750, 1.3800, l.3900, 1.3950, and 1.4000 - *DNT which rolls off tomorrow.
GBP/USD: The vol curve closed on a firmer tone with 3-mth closing up 0.05% at 6.65/6.95, sixes flat at 6.95/7.25 and 1-yr once again showing a good bid - up 0.1% to close at 7.35/7.6. Short dates were lower with 1-wk down 0.25% to close 6.25/6.55. EXPIRIES - EUR/GBP 0.6800, and 0.6825 strikes rolling off tomorrow.
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