friday night durnks, page-80

and brewster, the rise in the aud is not a one way street effect. Take bhp, for instance. It is such a globally diversified company that the rise in aud/usd will be hedged to some extent simply by the diversification, and by the expected rise in the usd value of some metals simply because the usd has slipped. Gold is one example of a hard commodity that usually rallies as the usd slips, but there is some evidence that copper, silver and some other metals also work to preserve value as usd loses its own.