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Insider Talk for EUR/USD and USD/JPY

Just read this:

"seems one particular french bank has been very active in shutting down snowball structured products in usdjpy and eurusd in the past 24 hours .... kind of like taking stops on long eur usd and long usd jpy !"

Talk from the big UAE dealing desks

EUR/USD: Dealers noting that prime brokers have raised collateral calls in today's session- Move suggests more liquidations to come

* If anything I can add, I find this so-much negative talk in EUR/USD good, because the harder they talk, well, you know the story...

Coordinated intervention in the FX market is ahead?

There are strong rumors circulating around at this particular moment among the big dealing desks, talking of the possbility of a coordinated intervention to help stabilize the FX markets. Rumors also point out that CBs could decide new interest rate cuts. Stay tuned.

There's no liquidity outhere

A friend working in a huge middle-East name says there is no way to get a two-way pricing with less than 10-pip spread (EUR/USD!), but he also notes some sovereign interest for the Euro around 1.25. However, also notes that there are some big structures that are in the real pain as they are long EUR/USD from 1.50 (!!!). Anyway, in his own words, this is 'panic times'.

Big market participants flows

I was told last week that big names had shown (for the first time in months) some real interest in buying EUR/USD when the pair traded around 1.45.

That same source told me that because of the huge Russian Intervention to stop Ruble appreciation (Ruble lost some 12% in 2 sessions last week...), and the fact that they had not been quiet about it, had backed some of them from showing more real interest.

I just wonder what's next here...

EUR/CHF: Talk of "Huge" Selling from a Swiss Bank

Very good size selling from a Swiss bank is being blamed for the EUR/CHF drop to threaten touted bids at 1.6285. Today"s Asian session range was 1.6323-1.6344.

The instigation of short CHF carry trades was touted as a factor in yesterday"s cross rise to 12-week highs circa 1.6370. An exotic option barrier, carrying an estimated E10mn payout, is reportedly attached to the 1.6400 level.

HUGE ALERT: BERNANKE SAYS THE FED COULD INTERVENE TO SAVE THE DOLLAR

Fed Chairman Bernanke suggests that there are conditions in the FX market right now favoring the intervention in favor of the USD.

This is a huge event, surely to take it into account!

EUR/USD Option Barrier @ 1.6050

There is talk of massive EUR/USD options barrier @ 1.6050 for the short term.

Options Barrier in EUR/USD @ 1.5800

"There is a large exotic barrier at 1.5800. This is the peak trigger of a Double No Touch option, carrying an estimated E20mn payout, which is slated to expire on July 16. 1.5050 is the base trigger of the DNT. EUR/USD was last at 1.5800 on June 9." - ThomsonReuters

The Insider: German banks buying Euros

German banks buying Euros aggressively ahead of speeches by ECB'S Stark and Trichet.