EUR/USD Stays Near 1.1500 as 19 June Expiries Add Fresh Pinning

The latest 19 June expiries at 1.1500 (€3.45bn) and 1.1350 (€1.06bn) extend the pinning effect on EUR/USD into the New York cut. This follows the dominant 18 June expiry of EUR 13.48bn at the same 1.1500 strike, which acted as a magnet after earlier resistance at 1.1600-1.1625 on 15 June and 1.1540-1.1600 on 16 June. Throughout the period, option-related flows have capped upside while broader macro drivers and USD/JPY intervention risks set the overall tone, keeping the pair range-bound around the key strike cluster.