French corporates tap €/$ accumulators
French corporates have been picking up accumulators on the euro against the US dollar as a tool to buy euros for a more favourable exchange rate by selling volatility in return.
According to fx options traders in London, larger-sized French corporates -- particularly firms with $ earnings – prefer to buy euros; therefore, an accumulator is the most efficient way of doing so.
“An accumulator is basically a zero-cost option that offers buyers a more favourable rate than the ...Already a subscriber? Login