Question: Which statement is false? Cross - currency swaps are typically used to speculate. Since changing money, a currency swap does not have to be on

Which statement is false?
Cross-currency swaps are typically used to speculate.
Since changing money, a currency swap does not have to be on the balance sheet.
Transaction exposure can arise from borrowing or lending funds in a foreign currency.
In the U.S. a two-transaction approach is required for foreign currency transactions.
All are true.

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