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Central banks like the Federal Reserve (Fed), Bank of England (BoE), and European Central Bank (ECB) are all signaling higher interest rates, with an emphasis on longer-term rate increases. This trend has been driven by rising US treasury yields and disappointing economic data from China, which have impacted currency markets. Additionally, forward-looking ISM Surveys in […]

Download PDF SUMMARY Throughout 2023 FX volatility has been trending lower amid range bound markets. Volatility reached the lowest level earlier this month and there has been a small rally. Across all currencies the term structure of volatility has become more inverted (short dates have rallied more than longer dates). The option prices seen in […]

  Download PDF SUMMARY Global inflation remains stubbornly high. The Bank of England remains on course to deliver additional interest rate hikes. The European Central Bank is on track for two more rate hikes, in July and September. Euro-area core inflation remains one of the biggest issues for the ECB. The US paused at its […]