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Define the following types of foreign exchange product: currency swaps, FX futures, FX forwards and FX options, and explain the differences between them.

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1. Define the following types of foreign exchange product: currency swaps, FX futures, FX forwards and FX options, and explain the differences between them. (400 words)

2. The Markowitz mean-variance portfolio model has been criticized that it often leads to investment-irrelevant portfolios that are full of errors. By using the relevant literature as well as practical examples, please describe the drawbacks/limitations of the Markowitz portfolio theory. (600 words)

use sources from: The Economist, Wall Street Journal and Financial Times as well as
Eiteman, D.K., Stonehill, A.I. and Moffett, M.H. (2013) Multinational Business Finance thirteenth edition (global edition). Harlow, Essex: Pearson Education Limited.
https://www.academia.edu/8877120/Multinational_Business_Finance_13th_Edi_-_Eiteman_David
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