EURIBOR OPTIONS: Ratio Put Spread Seller

U.S. President Trump posts the following to Truth Social "What few people understand is that we do very little business with India, but they do a tremendous amount of business with us. In other words, they sell us massive amounts of goods, their biggest “client,” but we sell them very little - Until now a totally one sided relationship, and it has been for many decades. The reason is that India has charged us, until now, such high Tariffs, the most of any country, that our businesses are unable to sell into India. It has been a totally one sided disaster! Also, India buys most of its oil and military products from Russia, very little from the U.S. They have now offered to cut their Tariffs to nothing, but it’s getting late. They should have done so years ago. Just some simple facts for people to ponder!!!"

• The Pound is finding some wider demand, at a new intraday high against the Dollar, EUR and JPY.
• Cable is testing the immediate resistance right here at 1.3544 High Aug 22, and Continued upside traction would open back to 1.3595, 14th Aug high.

The London morning rally in gold topped out around $3,490, with bulls unable to force a test of April’s all-time high at $3,500.10.

• USD weakness, ongoing questions surrounding Fed independence and focus on the potential for a potential impending round of Fed easing supported precious metals early today, before the USD stabilised and bullion moved away from best levels, spot last ~$3,470 still +$22 on the day.
• Bulls remain in technical control, targeting the all-time high mentioned above.
• Conversely, first major support comes in at the 20-day EMA ($3,371.9).