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REAL-TIME GLOBAL RESEARCH

SDR FX Analysis - Asia

Published: 2026-08-18Institution: NomuraPages: 39Original language: English

Research evidence excerpt

Range

Lower

Upper

<12m expiry

Delta

USD/CNY

USD/KRW

USD/TWD

USD/INR

USD/SGD

USD/IDR

USD/HKD

USD/PHP

P1

P2

0

0.15

0-0.15

636

1,840

590

3,796

0

40

0

30

82

1,316

0

1,962

0

P3

0.15

0.25

P4

0.25

0.5

P5

0.5

0.75

Volume of PUTS (USD mn)

0.15-0.25 0.25-0.5 0.5-0.75

0

245

832

174

1,026

1,505

0

455

763

116

60

227

243

60

585

1,207

0

7

158

75

99

1,307

38

36

130

933

268

0

79

8

0

273

178

100

0

822

300

750

6,254

0

4

0

228

91

C5

C4

0.75

1

0.75

1

0.75-1

7

507

0

80

305

2,619

344

2,541

0

279

66

214

102

3,633

46

63

0.75-1

792

5,033

651

5,022

288

2,456

16

612

317

3,200

50

434

1,058

6,086

8

173

C3

0.5

0.75

C2

0.25

0.5

C1

0.15

0.25

Volume of CALLS (USD mn)

0.5-0.75 0.25-0.5 0.15-0.25

100

0

631

731

0

44

1

0

574

329

0

2,764

1,936

407

18

59

26

1,411

1,328

127

11

0

316

0

76

0

440

171

0

150

400

0

450

1,685

0

44

61

0

255

69

0

0.15

0-0.15

0

279

649

0

448

0

150

1,196

0

Total volume

Put

Call

1,721

892

5,052

6,394

590

651

5,210

5,067

835

1,470

4,511

8,212

509

119

4,052

3,926

286

328

2,926

3,516

153

126

665

1,045

1,024

1,758

12,899

9,417

50

113

382

497

Global Markets Research

24h

18 August 2026

1w

Research analysts

24h

1w

24h

1w

24h

1w

Asia FX Strategy

Craig Chan - NSL

24h

1w

24h

1w

Wee Choon Teo - NSL

24h

1w

24h

1w

Note: top row for each currency is trades recorded over the past 24h; second row is over the past 1w. Includes all trades with expiry <12m. z-scores based on 6m window.

Z-score:

<-2

-2 to -1

-1 to 0

0 to 1

1 to 2

>2

For more details on trades overnight and over the past week, upcoming expiries and in-depth analysis of

individual currencies, please click on the link below.

See Appendix A-1 for analyst

certification, important

disclosures and the status of

non-US analysts.

1

The English excerpt is extracted automatically from the cited source page and may contain layout or recognition errors. It is never batch translated.

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