Cash flow hedging refers to a Hedge Accounting concept.

A Cash flow hedge is a hedge of the exposure to variability in cash flows that is attributable to a particular risk associated with all or a component of a recognized asset or liability or a highly probable forecast transaction and could affect profit or loss.

Currency forwards or options can be used as cash flow hedges in cases such as hedging the interest payments on a bond issued in a foreign currency or protecting the value of sales in a foreign currency.