The Australian dollar has recovered well since its collapse to $0.4775 last April, and has hovered near the $0.55–0.60 level over the past few months. For all those export-reliant resource firms, agricultural companies, and even the Australian Treasury, the currency’s recovery means that the hedging positions that led to hundreds of millions, even billions, of dollars in mark-to-market losses are starting to look that little bit more manageable.
The question is, what happens now? Back i
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