FX OPTIONS: EUR/USD 3mth Vol Goes 6.35% Offered-to-Bid

3mth implied option volatility has gone 6.35 pct offered-to-bid since the European open. The period is eliciting support from the fact that it encompasses the event risk of the January 30/31 FOMC meeting--the first of 2007. In the short-dates: the O/N is eliciting support from the event risk of tomorrow's ECB press conference. The EZ refinance rate is expected to be held at 3.25% tomorrow--and hiked to 3.5% in December.