the concept of "exchange rate hedging costs" into the existent literature on currency choice. These costs are firm … rate hedging costs will be using only one currency, but still continue exporting to the destination. …

bond positions, which creates a net hedging demand for dollar assets that depreciates USD rates in both the forward and … spot markets. We document the time-varying nature of this net hedging demand and show how it relates to economic … FX hedging pressure can account for approximately 30% of all monthly variation in the seven most important dollar …

bond positions, which creates a net hedging demand for dollar assets that depreciates USD rates in both the forward and … spot markets. We document the time-varying nature of this net hedging demand and show how it relates to eco … FX hedging pressure can account for approximately 30% of all monthly variation in the seven most important dollar …