We often say that "A risk neutral measure is associated with the money market account, not the currency. Currency pays a dividend because it can be invested in the money market."
How is a currency paying a dividend ? if like it is advocated, investing it in a money market makes it paying dividend, isn't it the same with the bond? We could exchange the bond for an amount of currency and invest it in money market so to generate a dividend, but we still use a bond as a numéraire and define a risk-neutral measure with it !!! or simply converting a money market account in a nother currency and then reinvest the cash in a money market account ? !! I'm missing something
thank you
