Being a EUR/USD strategist feels a whole lot like being paid for live commenting on the cardiogram of a dead patient these weeks. New all-time-lows in 1M implied EUR/USD vol as the central bank liquidity floodgates are wide open on both sides of the pond. Sing hallelujah, it’s first of December anyway. The usual winners of a low volatility environment are AUD, NZD, CAD and GBP (and partly the Scandis) but for example AUD is certainly not partying like everything is safe and sound out there. SEK and GBP look like the big winners of the current low-vol environment. Both currencies with very weak underlying economic ... (full story)