This is true, but by taking USD exposure rather than Euro exposure, you are actually derisking and hedging out the massive currency exposure you already have. N

This is true, but by taking USD exposure rather than Euro exposure, you are actually derisking and hedging out the massive currency exposure you already have. Namely the fact that you use Euros for everything in your life. So it would probably be a better idea to hedge some of that out unless you have some specific long view on Euros. Also you could argue that Euro debt isn’t sovereign debt since only the European Central Bank can make more of it. Consequently USD should be a less risky and more stable currency in the long-term.