⚠️💱 Realized Volatility Moves Up On The Week, Implieds Subdued: Cable FX Macro

**As seen in Macro Walk report 10/06/23, subscribe at cablefxm.co.uk/reports

• The volatility section in our Macro Walk report showed real FX volatility higher on the week, the move was recorded across the board except in the yuan and euro/sterling

• This recent rise in historic volatility didn't see implieds catching higher, premiums remain below par at the front-end of the curve

• Demand for front-end gamma was only seen in EUR/USD and GBP/USD. Volatility structures remain steep across our watch list