FX options update

Vols in EURUSD has been trading higher over the last 24 hours, and EUR calls in particular are bid. The latest move lower in USD has like caught many investors on the wrong leg and the market is now buying protection against a further move higher in EURUSD. NFP tommorow will be key. O/N EURUSD is trading at 29 vols (137 pips for an ATM straddle).

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