The options market is bearish on EUR/USD.
The one-month risk reversal, which measures the spread between prices of calls and puts, is now seen at -0.30 versus -0.04 a week ago.
The decline from near-zero level indicates a strengthening of demand for the put options or bearish bets, which give the holder the right but not the obligation to sell the underlying asset at a predetermined price on or before a specific date.
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