broad dollar response and cyclical co-sensitivity of commodities (see highlights in chart 3). Historically, a -3.6% AUD/USD put with an -13.4% AUD/CAD KO would have been in-the- money 26.2% of the time, and knocked out 2.7% of the time. Nicholas Weng, London, (+44) 20754 76615 James Malcolm, London,

broad dollar response and cyclical co-sensitivity of commodities (see highlights in chart 3). Historically, a -3.6% AUDIUSD put with an -13.4% AUD/CAD KO would have been in-the- money 26.2% of the time, and knocked out 2.7% of the time. Nicholas Wang, London James Malcolm, Load Page 22 Weekly chan