FX OPTIONS: EUR/USD R/R Bias for EUR Calls Widens

The risk reversal curve's topside strike premium has been subject to inflation on the back of EUR call demand to accompany this morning's EUR/USD rise to fresh five-month highs five pips shy of 1.2980 (June 5 top). 1-mth through 1-year 25 delta R/R's are now 0.4/0.6 EUR calls over, having been 0.5 pct offered at today's European open. The R/R curve was 0.4 pct offered for EUR calls at Tuesday's European close.