FX Glossary(H)



Speaking of the "hawks" in the exchange rate, optimistic, bullish for the economic outlook. It refers to the aggressive person to hike interest rates. [← → Dove]


In the asset management, it refers to the investment to make in order to avoid risks. For example, the fund managers, maintain the stocks and receivables, if the value of stocks and receivables is likely to fall, rather than directly selling the stocks and receivables that is being maintained, by selling the futures, loss may be avoided. In addition, if the investor is investing in foreign bonds, because losses may be incurred in foreign exchange losses when it comes to the yen's appreciation trend, if the dollar / yen exchange rate is expected to be weak dollar strong yen, you may want to keep selling the dollar in advance futures exchange trading.

Hedge Fund

Original meaning is the funds used in the operation while hedging the risk (avoidance). In general, however, if the stocks and bonds prices will decline, to raise revenue, preferably by selling rather aggressively, we call as this as a general term the private placement format of the funds. Funds of private placement format, since there are no regulations and restrictions on investment and investment approach, there is no obligation and regulations to notify the supervisory authority, there are also very large sum of money of funds that are operating. In the foreign exchange market, it has become one of the main players since the 1990’s.

High Price

It is the highest rate during the business day or a certain period of time. [← → Low Price]

Historical Roll-over

Although normally, the exchange transactions (spot) is two business days after the settlement date, in order to be able to continue the position later, the rollover (deferral of position) can be done. In that case, the extension of the due date of the position held using the rate that was agreed in the past is referred to as historical rollover.


Sold at a particular or stipulated rate.