Multiple Choice
In 1987, currency speculator Andy Krieger made a lucrative currency trade.Believing that the New Zealand dollar was overvalued, Krieger bet on its fall, selling hundreds of millions of dollars at a time and pushing its value down.He profited by re-buying New Zealand dollars when the price bottomed out.What Krieger was engaging in was a(n)
A) discount position.
B) premium position.
C) short position.
D) long position.
Correct Answer:
Verified
Correct Answer:
Verified
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