The spot rate for the highly volatile USDZAR pair is 14.75 and the 3-month FWD rate 15.25. Based on your analysis of the FX rates, you are confident that the spot rate will be 15.00 in 3 months. Assume that you would like to buy or sell ZAR 10 MM. What actions do you need to take to speculate in the FWD market?

A) Take a short forward position on ZAR 10 MM at 15.25.

B) Buy ZAR today at the spot rate, sell them forward.

C) Take a long forward position on ZAR 10 MM at 15.25.

D) You would not use the USDZAR pair to speculate