Is this data coming through as soon as you connect the USB connector, before you turn on the device? If so then you probably have some kind of short in your USB connections or possibly in how you wired the FT232RL (did you use a socket or solder it directly?)
You have not said anything about what the UART portion of the chip is connected to. If that device is producing bogus signals perhaps because of a free-floating line with no pull-up, then that signal would get transmitted.
As we don't know anything about what is connected to the UART, we don't know whether the data is being transmitted with parity. Serial ports usually assume 8 bits no parity these days, but the transmitting device might have different ideas.
If the stream of data consisted of just A5 A5 A5 then that is a common pattern which consists of alterating binary 0's and 1's. For such patterns the baud rate setting is usually correct: if the baud rate setting was wrong then you get different relatively recognizable patterns that can often give you a hint about what the correct speed is; those patterns are, however, difficult to describe but obvious at a glance with sufficient relevant experience. (It has been too many years for me since I last needed to recognize these.)