US Monetary Authorities Take Note Of Low Implied Volatilities
REGULATORS
In the second quarter report to Congress on foreign exchange operations, the US monetary authorities reported last week that no intervention occurred during the April to June period. While the dollar stuck to a relatively narrow trading range during the quarter, the period was notable for the near historic lows in implied volatilities on currency options, noted Peter Fisher, executive vice president at the Federal Reserve Bank of New York and manager of the system open market account, who
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