One-month risk reversals on USD/INR, a gauge of calls to puts, has crossed below zero for the first time since March 2019, indicating a bearish shift in the market sentiment.
The one-month metric is trading at -0.025 in favor of USD/INR puts (or INR calls).
A negative print is the result of put options drawing higher premium or demand than calls or bullish bets.
The USD/INR pair fell to a 5-½-month low of 73.80 on Thursday.
Risk reversals
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