🇨🇭LIVEDESK: FX FLOWS

• FX flows in Asia were up today by 10% today from Friday (-11% vs the five-day running average). In G10, the desk saw USDJPY selling across bank, macro and retail names.

• We also saw noteworthy flows of GBPUSD selling by macro names and EURUSD selling by bank names.

• In vols, JPY vols traded more or less sideways here after coming softer again on Friday. Equities and cross-JPY spots were a bit lower in the morning, lending these curves some support, and they could go a little higher again if these spot moves extend in London.