The by-product of this is plunging FX volatility, something that usually works to the benefit of risker currencies.
G10 FX volatility remains low with implied one-month euro/dollar volatility below 7% right now, or around a half of the level that we were seeing a year ago.
Volatility has slumped in the G10 FX market. Should we take this as a sign that boring range-trading is set to persist? Or is it a sign that the market is waiting for...
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