GBP/USD one month 25 delta risk reversals (GBP3MRR), a gauge of puts to calls on Sterling, have jumped to -0.95, the highest level since July 12.
Notably, the gauge has seen a near 90-degree rise from the April 1 low of -2.775, meaning the demand or the implied volatility premium for GBP put options (bearish bets) had dropped sharply this month.
Investors seem to have taken heart from Brexit delay.
GBP3MRR