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Unsurprisingly GBP vol markets are all.....>

STERLING
STERLING: Unsurprisingly GBP vol markets are all well bid since the Johnson
resignation, with 1w implied vols recovering sharply after printing the lowest
level since early June earlier today. GBP/USD 1m risk reversals now sit at the
most in favour of puts since February - options market clearly becoming more
bearish on GBP here.

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