A U.S. company is owed 2,000,000 EUR by a customer and expects to receive this amount in one year. The same company has taken out a loan for 1,000,000 GBP that is scheduled for repayment in one year. The one-year forward rate on the EUR is $1.10 and the one-year forward rate on the GBP is $1.27. The company believes the EUR will depreciate against the USD and wants to hedge its exposure. The correlation coefficient between the EUR and GBP is 0.96. Which of the following is the best hedging strategy