💶🔻 Euro Falls The Most Since July On ECB: Cable FX Macro

• The euro is extending losses from ECB monetary policy decision as investors price in the potential end of its tightening cycle. EUR/USD last down 0.86% to 1.0637, spot reached the lowest level in six months

• EUR trades to post the worst day since late July

• Option markets continue to favouor EUR/USD downside at 17bps for the 1w tenor, this is compares to 4bps yesterday. The 1m tenor favours puts by 40bps.

• The Bund curve sees the belly outperform as 2s5s30s fly dips by almost 10bps to -67.0bps, the 2-year yield falls 2.8bps on the day to 3.133%. However, rates pare earlier session gains