Volatility is back and that is a good thing

From BNY Mellon, we have a set of charts on FX volatility in a number of major currencies. Volatility is back, albeit it is still less than the long-term averages. With more volatility in major asset markets and more volatility in underlying economic data, there is a corresponding change in the price of money. Money is moving from risky to less risky currencies. Money is flowing with respect to fundamentals. This is all good because the extreme low levels of volatility created an unhealthy risk environment.