I couldn't attend this lecture due to family commitments. I read the lecture notes and my understanding of it is;
Currency risk is the risk that a business operations will be changed or damaged with fluctuations in the exchange rates. Exchange rates are sensitive to political and economic factors.
George Soros ("the man who broke the bank of England") speculated on the British Government devaluing the pound after being thrown out of the European Exchange Rate Mechanism after the pound fell below the agreed rate. He made a reported $1 billion from the deal which he gave to Romanian Orphanages. That's ok then.
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