简单介绍一下外汇掉期(Fx Swap)，还可以变成外汇交易互换。主要分价差(Interest Rate Spread)和基差(Cross Currency Basis Swap)，前面一种与中央银行货币现行政策密切相关，后面一种反应的是两种货币的供求相对性军事实力。
交叉式货币基差互换(Cross Currency Basis Swap)：就是指不一样货币根据不一样参考利率的浮动利率对浮动利率的互换，买卖体彼此各自扣除和付款两种不同浮动利率的利息账款。这种方法能够防止中央银行货币政策对对冲交易方的危害，但也会受到销售市场结构型、监管政策等其他因素的影响。
举例说明：A公司能够以浮动利率拿来美金，而B公司能够以浮动利率拿来欧，而A公司需要使用欧，B公司需要使用美金，则A、B公司通过商量后互换二者的货币，即A公司以浮动利率贷来美金后把它转贷款给B公司应用，由B公司来还款浮动利率的美元贷款，一样，B公司以浮动利率贷来欧后把它借款给A公司应用，由A公司来还款浮动利率的欧借款，就完成了交叉式货币基差互换。 这个就你情我愿，互换双方令人满意。
如今来说说澳大利亚，自打2016年底迄今，美联储会议早已加息175个基点，但澳洲银行的现金利率和房屋贷款利率只做了很少的变化，这主要归功于澳洲银行使用了交叉式货币基差互换实际操作。
First, the Australian bank raises US dollars in the US wholesale markets. Next,the Australian bank and its swap counterparty exchange principal amounts at current spot exchange rates; that is, the Australian bank ‘swaps’ the US dollars it has just borrowed and receives Australian dollars in return. It can then extend Australian dollar loans to Australian borrowers;
Over the life of the swap, the Australian bank and its swap counterparty exchange a stream of interest payments in one currency for a stream of interest receipts in the other. In this case, the Australian bank pays an Australian dollar interest rate to the swap counterparty and receives a US dollar interest rate in return. The Australian bank can use the interest payments from Australian borrowers to meet the interest payments to the swap counterparty, and it can pass the interest received from the swap counterparty onto its bondholders;
At maturity of the swap, the Australian bank and its swap counterparty re-exchange principal amounts at the original exchange rate. The Australian bank can then repay its bond holders.
根据此方法，澳洲银行针对美联储会议加息影响的降到了最少，海外融资成本的升高，并没传输到房地产金融之中，房地产业与商业银行并没进入负的反馈。中后期剖析澳大利亚货币时，最主要的驱动因素还是需要关心全世界总供给的改变。
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