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Please advise on currency future confusion

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Not applicable
Am I right to say that buying a $/R contract and buying a R/$ contract means exactly the opposite results. If that is correct then look at the TRADE page of FIND OR TRADE CF where under LOOKUP OPTIONS it is stated $/R Jun-10 but under TRADE ENTRY it states 14Jun10 ZAUS which is the opposite. So (1) what are you trading here ? (2)If you buy a $/R contact are you long $ and short R ? Thanks .
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11 REPLIES 11
SimonPB
Valued Contributor
you are trading the opposite currency .. so if you BUY the $ contract you're long $ and expect Rand weakness against $ .. an inverse, so if you sell the you are short $ and expecting Rand strength against $ ..
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Not applicable
You are trading the opposite currency ? Which one is the opposite on $/R and ZAUS ?
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SimonPB
Valued Contributor
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Not applicable
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EkisDoep
Frequent Contributor
$/R had a nice run the previous two days but seems to be hovering a bit today!
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Levitt
Regular Contributor
Yesterday was the first time it broke through the R8.00 level since it briefly did the same on the 2nd of November last year...
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EkisDoep
Frequent Contributor
Yesterday's plunge was good to me. I made up what I have lost so far this year plus a tiny bit more. Sold my June contracts this morning. Now have a few Sept running. Seems like there is a little movement this afternoon.
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Not applicable
Simon, re. your trading the opposite currency ie the R ,what do you trade if it is $/euro and euro/$
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Picky
Regular Contributor
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Not applicable
Not necessary, just need a simple answer to a simple question
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Not applicable
Picky , thanks for ref. Great site
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