Options traders are expressing their bearish views on the dollar through currencies such as the Australian dollar and the euro

Options traders are using currencies such as the Aussie dollar and the euro to express their bearish views on the US dollar in the wake of recent poor US economic data. The Aussie has gained support on the back of the Reserve Bank of Australia's "cautious and gradual" easing stance on the one hand, and on the other hand, on the other hand, because of improved risk sentiment in the market. The appeal of the euro has increased, due to expectations that increased defence spending in the euro zone will support the region's economy, and the more hawkish stance of the European Central Bank. Meanwhile, the outlook for the dollar appears to be more bumpy, with data showing that the US added fewer jobs than expected in July and data from previous months have also been revised down. Sohrab Tandon, global head of FX options at Standard Chartered in Singapore, said there was "a lot of interest" in call options on the euro-dollar and the Australian dollar following the non-farm payrolls data. He said the market was "focused on upcoming events" such as US inflation data and the Federal Reserve's Jackson Hole symposium. (Jin Ten)