Published at 07:34 (GMT) 05 Dec
EUR/USD is through 1.3100 again this morning, and no doubt 1.3150 is on the radar for today. As we highlighted at the start of the week, the spec market has been largely short EUR's here through the year, and were it not for the constant buying out of Asia and the Middle East, we would be a much lower levels.
As such, end of year closeouts mean one thing, and intra day specs are using a slow grind higher to squeeze out more and more of these shorts. 1.3150, and 1.3200 thereafter carry large exotic outstrikes, and these are a the primary draw for buyers near term. Expiries at 1.3095 and 1.3125 are the stand out strikes for today.