**As seen in Macro Walk report 04/28/23, subscribe at cablefxm.co.uk/reports
Front-end volatility in USD/JPY fell by 1.7 vols to 10.61%, the move comes despite this week's docket holding a batch of tier one events and after the BoJ left monetary policy unchanged
1m USD/JPY IV is now below historical volatility by about 58bps as not only implieds fell but realized jumped to the highest in two-weeks
Looking ahead, we note front-end EUR/USD vol rising by more than two vols to 9.0%, the relative premium is still within the last month range at about 150bps
Comments