Question 2 On the 2 January N, an american firm knew that it has to buy 1 million Euros at the middle of June N. In order to hedge its position, this firm used Euros/dollars futures. At time 2/1/N: future price = 1.20 dollars/euros Size of each contract: 125000 euros Initial margin per contract = 4050 dollars and maintenance margin = 75% of the initial margin. Annualized CCIR is 2%. Determine the movement in the account of this firm in the Clearing house. multiplier outstanding time 0 1 2 price Currency exchange change 1.2 1,22 1.25 1,35 1.15 4 5