A speculator in futures contracts expecting the value of a foreign currency to depreciate would likely sell futures contracts.

Name: A speculator in futures contracts expecting the value of a foreign currency to depreciate would likely sell futures contracts.
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Selling futures contracts would allow the speculator to lock in a price for selling the currency at a later date, which would be beneficial if the currency does indeed depreciate as expected.

A Speculator in Futures Contracts Expecting the Value of a Foreign