I am using an FT230X, and have it configured with an LED that flashes when data is being sent or received. While my code is running, I can see the LED flash in sync with the data being sent to Terminal. The code runs and the LED continues to flash as long as Terminal is open. Then, when I close Terminal and wait a few seconds (30 maybe), the LED stops flashing. When I reopen Terminal, the LED begins flashing again and continues as long as Terminal is open, or at least up to the hour or so that I have tested. That seems to indicate to me that Terminal is sending something akin to a CTS signal back to the circuit.
ETA: Now that I think more about it, I suppose it's the FT230X that stops sending when Terminal is closed, but I wonder why it waits 30 seconds or so.