EUR/USD implied volatility record lows, options cheapest they've ever been!
That reflects the lack of realised or expected EUR/USD spot volatility
Monday vol 2.9, straddle break-even just 30 pips before Mon at 10am NY cut
3-month implied volatility at 4.4 - already 0.4 below previous record low
U.S Thanks giving holiday and massive expiries don't help vols nL1N28704U
EUR 100-bln expiries 1.09-1.12 range, bulk 1.10-1.11 year end nL1N28606F
Record low vols cheapen hedges, and should encourage carry trades