simple question, but I cant remember: If I am long a currency futures contract, what currency am I long? If it is quoted DC/FC and I go long, does that mean I buy FC and sell DC? Cause when FC appreciates the quote goes up, so the long makes money, correct?
My understanding: whether you’re long or short, it’s always the FC. So when you’re long (doesn’t matter whether it’s quoted DC/FC or FC/DC), you’re buying the FC (selling DC).