In this episode of At Any Rate Arindam Sandilya, Juan Duran-Vara and Ladislav Jankovic discuss FX Derivatives themes of interest heading into 2H25. We briefly go over the FX volatility backdrop and then pivot to the six themes: carry, USD skew, correlations, directional exposure in JPY and EUR, JPY surface setup, and wrap it up with the just-in case recession hedges.

Speakers
Arindam Sandilya, Global FX Strategy
Ladislav Jankovic, Global FX Strategy
Juan Duran-Vara, Global FX Strategy

This podcast was recorded on June 30, 2025.

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