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Jun 03 - 07:55 AM

GBP/USD - Pandemic Low GBP/USD Option Volatility Speaks Volumes

By Richard Pace  —  Jun 03 - 05:36 AM
  • GBP/USD extended Feb 1.4240 peak to marginal new 3-year high 1.4250 Tues

  • Couldnt extend, USD demand saw 1.4112 Wed, rising 21-dma support, now 1.4126

  • Lack of conviction in FX cash and options to take Cable in either direction

  • Benchmark 1-month option implied volatility back at 6.5 - pandemic lows

  • Highlights lack of actual and expected volatility, traded volumes 2021 lows

  • Options retain premium for downside strikes - flags low topside conviction

  • Not ruling out 1.4377 post Brexit high, but likely to remain hard fought

For more click on FXBUZ

GBPUSD option volumes Click here

GBP=D3 Click here

GBP/USD benchmark 1-month implied volatility Click here

Refinitiv IFR Research/Market Commentary


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