⚠️ Volatility Gauges Falls Across The Board: Cable FX Macro

• Cross-asset volatility indexes see declines over the last couple of sessions. Rates volatility, FX, and equity volatility tick off highs seen earlier in the month

• The CBOE VIX index heads into a higher seasonality period. Months following August tend to see a rise in equity vol

• In terms of FX performance, USD has the highest positive beta to volatility, the dollar index has seen sharp losses this week