Thanks Jim for that full explanation. Very interesting to me. I have been forced to watch currencies as I own a home in France as well since 2 years.., so a fair proportion of my living expenses are in euros. its that I am trying to "hedge" , if you will. LT I agree with you on the longer term macro directional movement.

I have a couple of projects in mind for this summer as well, though the big one can wait ( I also cant find anyone to do it !! rehabilitate a very large "ancien cuisine" , so not too worried about that. On my 3rd contractor already for "devis" but they want to put in crappy cupboards (I cant change the space or the flooring) instead of rehabilitate...so I guess I can wait with that.:-)

I spend between 4 and 6 months there each year and its all very doable ( I am dual EU/US citoyen). Thats why I try to "hedge" a bit.

I guess I'm hoping to make a little on the side just to hedge and exercise my brain during this near term volatility.
good luck to all of us in these challenging times. so glad I am rock solid in BRK for the most part !