Letโ€™s start by addressing the elephant in the room: the name โ€œFX swapโ€ is just plain weird.ย  This isnโ€™t a swap in any normal sense of the word swap: it isnโ€™t an exchange of cash flows at some predetermined future date(s).ย  An FX swap is nothing more nor less than rolling over an expiring currency […]

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