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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Shack who wrote (62273)1/26/2001 9:28:47 PM
From: Mark Adams  Read Replies (1) of 436258
 
Maybe the short position offsets a derivitive? Some of the multinationals have purchased swaps that guarantee their income in us dollars, so I imagine the bank(s) that sold would want to short the euro to lock in the translation rate until the income is actually earned.

I'd expect shorts of this nature to ease as the Euro approached parity, but other shorts might offset this and make it invisible.
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