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What is meant by a currency trading at a discount or at a premium in the forward market? What is the relationship between the forward

What is meant by a currency trading at a discount or at a premium in the forward market?

What is the relationship between the forward exchange rate and traders expectations?

Suppose the three-month forward rate is $2/. But you expect the spot exchange rate will be $2.1/ in three months. What should you do?

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