Open interest in futures jumps on Brazilian rate cut
Open interest in CME Group’s BRL/USD futures rose in the run up to the Brazilian Central Bank’s 50bp benchmark interest rate cut and has remained elevated ever since.
The central bank cut its Selic rate to 5% on October 30, a monetary stimulus that has also pushed up activity in FX futures referencing the real.The number of large open interest holders in CME Group’s BRL/USD futures reached a record high of 50 two weeks ago, ...
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