Does anyone know the effect of a falling AUD for AGO? How well(in this case poorly) hedged are they etc?
put simply, (cause i don't know big words)
commodity prices are sent in USD, so any exporter will benefit from a falling dollar. should help all of Australia, hopefully RBA finally learnt that lesson after watching USA, Europe, Japan, Korea etc try it. (and they say china is a currency manipulator)
AGO Price at posting:
$1.00 Sentiment: Sell Disclosure: Not Held