In the forward market hedge example in the book,the exporter Nucor would deliver the euro it receives from the Spanish importer in return for US dollars from the other party to the forward contract.Hence,Nucor is in a covered position.

Name: In the forward market hedge example in the book,the exporter Nucor would deliver the euro it receives from the Spanish importer in return for US dollars from the other party to the forward contract.Hence,Nucor is in a covered position.
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This is exactly the process.

In the Forward Market Hedge Example in the Book,the Exporter