I would like to get a trades view on hedging a FX Forward with a FX Future by just moving the (1) FX_Spot rate and ignore the other risk factors (2) ccy1 DV01 risk, (3) ccy2 DV01 risk, (4) basis swap risk between ccy1 and ccy2. What would the best way performing that? Does someone has an example how to perform it? Thanks.
Fx futures and fx forwards with the same expiration are an excellent hedge for each other. They basically trade on top of each other.