💱G10FX May % Performance: Dollar Bottoms, Euro Tops

• On May 2022, the G10FX was led by the euro and closely followed by the Australian dollar. Bottoming the group we, the dollar closed down against all G10 currencies, the NOK was flat vs the dollar and negative to the yen

• JPY crosses were bid heading into the second half of the month, NOK/JPY saw a decline of circa 6.0%, high beta FX followed the tone. Yen crosses pulled back losses and most ended the month in positive ground

• J.P. Morgan Global FX Volatility Index ticked lower on the month, the metric ended with a reading of 9.6 vols vs 10.57 at the beginning of May

*G10FX spot vs JPY intra-month May 2022