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Posted by Tango
on June 22, 2020, 9:34 am
July has been reduced to almost zero but the total OI is only slightly lower, indicating that new business continues to take place. If true to the COT, the new selling continues to be funds and the buying continues to be all other sectors. Today there was good support by trade at the lows and now buying is dominating, for now. At a certain point funds will begin to cover but likely that level is considerably higher from the 97.30 cuttent price. Spreads continue to be steady as fences continue to be purchased. USDBRL is 5.227 -0.0835 (-1.5724%) and USDCOP is 3,733.4199 -9.83 (-0.2626%).