Currency Futures Question?
SO, i was wondering if i were to speculate on a currency future say EUR/USD would i need to have one of these currencies in order to buy the contract? for example: say i’m Canadian and i want to buy this contract but i have neither side’s currency, can i still buy it and take advantage of the price fluctuation between the two without having to actually exchange my CADs for USDs/EURs? (assuming i do not keep it until expiration and actually make the transfer)
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no, you don’t have to. You just tell your broker to buy or sell EUR/USD futures.