EUR/USD: Trading A Late Brexit Hedge - SocGen

EUR/USD: Trading A Late Brexit Hedge - SocGen

22 April 2016, 15:20
Vasilii Apostolidi
0
28

Brexit would likely pressure EUR/USD towards the bottom of its range.

The 5 vol spread between cable and EUR/USD volatilities makes the latter a cheaper proxy for investors still looking for hedging solutions. EUR/USD skew appears rich compared to the volatility, strongly suggesting put spread-like trades.

We recommend Buying a 3m put ladder with strikes at 1.07/1.06/1.00.

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