ell NZD/JPY. In the derivatives portfolio, take profits on NZD/USD vs USD/CLP vols swaps and EUR/CAD vs EUFt/MXN. Stay long straddles in GBP/USD and EUR/CAD; and stay long AUD/USD vs USD/BRL vol. Commodities Commodities are slightly down again this week led lower by energy and base metals. Oil supply pr