Euro Fall Drives Forex Derivatives Sales In US
NEWS
NEW YORK -- Volumes in sophisticated euro/dollar currency derivatives are soaring as US companies, such as Texaco, IBM and McDonalds start hedging their exposure to the euro, say bankers.
Steven Englander, a global currency economist at Citibank Schroeder Solomon Smith Barney in London, says: "The downward spiral in the value of the euro has become an increasingly important issue for US firms. Many of them are having to think about hedging for the first time."
That, combined with increased
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