The EUR / JPY down sharply following rumors of an option purchase of "One Touch" strike 110 maturity three months.
The EURJPY is down sharply today, following a rumor that a large bank has bought an option to "One Touch” strike 110, maturity three months for a very large amount. The bank will receive the "premium" if EURJPY reaches 110 by 15 August 2009.
The "carry trades" are down this morning, the NZD / JPY is down 2.25%, the EURJPY and AUDJPY are down 1.50%.

Emman Xuereb
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