**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.
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