⚠️1-Week FX Volatility Premiums Rise Across The Board: Cable FX Macro

**As seen in Macro Walk report 01/27/23, subscribe at cablefxm.co.uk/reports

• Tenors capturing this week's heavy docket show a rise in implied volatility, given the list of releases and the central banks we're set to hear from, a rise in IV is no surprise, but its relative premium shows a divergence not seen in more than a month

• The largest relative premiums are seen in USDJPY and EURUSD markets, the latter is reversed as soon as we look further into the 2w tenor

• While implied volatility increased across the board in the 1w tenor, the move saw mixed performances in 1mo. We saw a sharp move to the downside in high-beta FX, kiwi and CAD posted the largest drops.