Amundi published market data showing the 2W vol hump in USD/JPY options pricing the combined risk of both events.

Amundi, the leading European asset manager, ranking among the top 10 global players*, offers its 200 million clients - retail, institutional and corporate - a complete range of savings and investment solutions in active and passive management, in traditional or real assets. This offering is enhanced with IT tools and services to cover the entire savings value chain. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages close to €2.6 trillion of assets under management** . With its six international investment hubs**, financial and extra-financial research capabilities and long-standing commitment to responsible investment, Amundi is a key player in the asset management landscape. Amundi clients benefit from the expertise and advice of 5,400 employees in 34 countries. *Source: IPE “Top 500 Asset Managers” published in June 2026, based on assets under management as at 31/12/2025 **Amundi data as at 30/06/2026 ***Paris, London, Dublin, Milan, Tokyo and San Antonio (via our strategic partnership with Victory Capital)