Traders are cutting bets for swings in the Colombian peso on speculation policy makers will put the brake on a rally that’s made the currency the best performer in emerging markets this quarter.
Implied volatility on three-month options for the peso versus the dollar, which reflect expectations for fluctuations over the next three months, dropped 9.1 percent since March 2 to 11.285 percent yesterday, data compiled by Bloomberg show. That’s the measure’s lowest level since May 4.
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