FX option expiries for 19 January 10am New York cut

There are no significant option expiries today, with focus mainly on major currencies. The Japanese yen is in spotlight due to intervention risks as PM Takaichi plans to announce a snap election later today at 0900 GMT, bringing fiscal risks to the forefront. Additionally, Trump's geopolitical tensions stir concern for the dollar, which showed minor initial gains but quickly settled lower. This erratic behavior raises currency debasement worries, pushing precious metals higher. Currently, the dollar is slightly down ahead of European trading, with no significant movement concerning option expiries. Given that today is a US market holiday, traders are likely focusing on expiries for later in the week. Although the market may settle quietly at the week's start, the negative risk sentiment could lead to extensions in major currency flows. The Swiss franc is currently rising, with USD/CHF down 0.5% to 0.7987 and EUR/CHF down 0.3% to 0.9286. Overall, the yen's intervention risks and broader market dynamics remain key factors to watch.