Ann: Company Update , page-11

The increase in operating costs will continue to be impacted by the high AUD/USD exchange rate, however, it should be noted that the higher Australian dollar is being driven by higher commodity prices, Fortescue said.

Interesting comment from one of the big fish...

Seems to me its alot of smoke and mirrors.

With a Market Cap around $400mil, its a bargain.

DYOR.