G7外汇市场的低波动率之谜  

Myth of Low Volatility in G7 Currency Market

作　　者：王博 

机构地区：[1]招商银行金融市场部

出　　处：《中国货币市场》2018年第8期20-23,共4页China Money

摘　　要：文章指出，买方减少、卖方增加是当前G7外汇市场波动率处于历史低位的根源。文章从避险情绪、经济预期、货币政策以及套息交易等几个方面分析了此种买卖力量失衡，并认为低波动率仍将持续。文章给出此种市场环境下的外汇操作策略建议。The decrease in buyers and increase in sellers is the primary cause of the current low volatility in G7 currency market. The article analyzes the imbalance between the buying and selling forces from the perspectives of risk aversion, economic expectations monetary policies and carry trades, and believes that the low volatility will continue. The article offers recommendations regarding FX trading strategies under such market environment.

关 键 词：外汇市场 波动率 经济预期 力量失衡 套息交易 货币政策 操作策略 市场环境 

分 类 号：F832.5[经济管理—金融学]