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💷Sterling 1y Risk Reversals Tick The Least Bearish In Two Years: Cable FX Macro

Writer: Rosbel DuránRosbel Durán
Jan 10, 2024

  • 1y tenor GBP/USD risk reversals read at 124bps in favour of puts over calls, this is the least sterling bearish the options market has been since early 2022 and compares to the 1-year average of 155bps

  • The 1m risk reversal tenor is now ticking at 20bps in favour of puts, 1m volatility is steady at 7.265% as the structure inverts to see 1w tenor at 7.635%

  • GBP/USD is paring losses from Tuesday while it remains above its 20DMA at 1.2722



 
 

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