EURUSD vols are softer from last night when the market was chasing Gamma as spot rallied. As the market is long topside vega, the back end of the curve will stay heavy on any topside moves. Risk reversals are very well-supported, with buyers of 2m and 1y at 0.75 and 1.55 respectively. The curve is flat so far today with 1m and 1y at 10.0 vols. (UBS FX Options desk)
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