A currency that usually comes from an industrialized country and is freely convertible and widely accepted as a form of payment for goods and services. Hard currencies are expected to be relatively stable and highly liquid in the FX market.

Currencies or other instruments that investors will turn to in times of market turmoil. The most widely used haven currencies are the CHF and JPY. The USD and EUR have functioned as haven currencies at certain times.

Someone who prioritizes fighting inflation over boosting growth. Hawks prefer to keep interest rates high.

Taking a market position to offset open positions and neutralize them to a certain degree with respect to market movements.

The Hang Seng Index of Hong Kong stocks.