**As seen in Macro Walk report 09/23/2022, subscribe at cablefxm.co.uk/reports
FX implied volatility curves are inverted across the board, except for yuan vols
Most of the inversion is seen in the 1week - 6month tenors, EUR/USD sees 3.7p of inversion before a 2.1p in the 1-yr equivalent
Sterling and yen saw the widest spreads, meaning vol curves are most inverted in GBP and JPY options markets
GBP/USD 1w implied vol reached 16.4% as of last week market close, the 6-mo equivalent was at 12.4%. Sterling overnight volatility reached the highest since March 2020 as the pound reached a record low to the dollar
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