someone tells me how I can derive the pv of an fx forward by comparing the following 2 strategies:
a) go long the fx forward to buy usd at time T in the future at no cost
b) buy a zero usd with same ttm as the forward + borrow the forward price in euro at cost for the usd zero and borrow for the forward.
Are those strategies realy the same? I don't get as I think that strategie b is only an interest rate trade where strategie a gives me full exposure to eurusd delta..