A hedge fund manager believes that the US central bank has raised interest rates to such a degree that a severe recession is on the horizon. The manager therefore anticipates that the central bank will begin to reduce interest rates, which will drive down the price of the US dollar. Consequently, the hedge fund manager takes a large short position in the US dollar. What type of alternative strategy has the hedge fund implemented? 

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The hedge fund manager has implemented a currency trading strategy known as a short position in the ... View the full answer