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Posted by Tango
on August 6, 2019, 9:26 am
The OI shows Sep rolling and a net increase indicating new buying, likely commercials, and a resumption of new selling, likely funds but possibly other spec who sold as the Real fell yesterday. The question is if fund selling was limited to a few funds who have now ceased selling. Is today’s strength short covering due to the recovering Real as USDBRL is 3.9431 -0.0347 (-0.8723%)? USDCOP is 3,430.3601 -22.64 (-0.6557%). The $ has strengthened which makes the Real strength against it more profound. The market has just made a high of 97.75 and is now holding. The Sep arb is 36.82.