• Big USD/CAD rally Tuesday from 1.3409 to 1.3645 - boosted option demand

• 1-week already buoyed in to Fri's U.S. NFP - gained another 1.5 to 10.0

• Benchmark 1-month implied vol up 0.5 to 9.3 before peaking

• Option dealers also report strong end-user demand for topside strikes

• Risk reversals retain a firm 0.9 vol premium for CAD puts/USD calls (upside)

• Overnight expiry now gets Powell - biggest vol gains vs peers 13.5 from 11.0

• Related comment nL1N32Q0IU

  
  

  
  

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