The foreign ministers from Europe’s six founding members called for the UK to provide clarity as soon as possible. The founders also recognized the different levels of ambitions among the member states as it stated.

While not stepping back from what we have achieved, we have to find better ways of dealing with these different levels of ambition so as to ensure that Europe delivers better on the expectations of all European citizens.

Looking ahead, the Draghi’s speech on monetary policy minutes would more interesting especially after the shocking results of Brexit votes.

Because the volatility is often experienced during his speeches as traders attempt to decipher interest rate clues.

He had mentioned in his last speech that the economic recovery to proceed at a moderate but steady pace. Nevertheless, for this recovery to be consolidated, our efforts should now concentrate on strong policy action to improve the business environment, favor investment and raise productivity. Delivering on these objectives will not only create the conditions for inflation to accelerate its return to levels below but close to, 2%.

Not only should the risk premium in the FX market fall, but the environment will not support the emergence of new trends. In particular, as you can probably observe from EUR/USD technical charts, the trend has been confined within the large 1.05-1.16 range holding since March 2015, we expect the range to persist going forward but slightly bearish biased.

Volatility peaked during the euro fall that began in 2014, but though the range was relatively turbulent initially, EUR/USD realized volatility is now going down. The market can’t keep buying volatility in a trendless market and with limited central banks shifts expected in the coming months.

So shorting strangles are luring avenues of FX pairs using OTM strikes using 3mtenors are likely to fetch the certain yields.