A Forward Foreign Exchange Contract ______

A forward foreign exchange contract ______.

A) allows a transfer of purchasing power from one currency to another on a predetermined date and at a predetermined exchange rate
B) is a long (or forward) position in a foreign currency
C) is a type of option that can be used to hedge against unfavorable changes in foreign currency values at the discretion of the option holder
D) is priced to equal the spot exchange rate
E) None of the above