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August 23, 2017
The Euro reversed much of yesterday’s declines following better than expected manufacturing data out of Germany and the Euro area. Meanwhile ECB President Draghi delivered a speech overnight which did not reference the currency in any way, providing Euro bullish traders with a reason to get excited. The common currency traded as high as 1.1808 and opens the NorAm session at 1.1804. In the options space, bullish bets in Euro continued to build with one month risk reversals trading comfortably above par. Option related offers are noted into 1.1850.


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