FX Update- AUD
AUD/USD consolidated after the European morning gains, with prices largely static around the 0.8760 region. The rally extended to 0.8785, but standing offers at 0.8790-00 capped gains. Traders note good size 0.8755 option strike for today’s N.Y cut, which appear to have influenced price action in the absence of larger flows. Elsewhere, good demand was reported for AUD calls in the European morning, with three week 0.9000 strikes dealing in modest size. Also of note are good size strikes due tomorrow at 0.8785 and 0.8800 at the N.Y cut.