uk perspective, page-6

SaturnV

No, not at all. Forex changes tend to be very gradual and imperceptible in terms of stock prices and don't tend to be much of a consideration for most in these, generally, very short-term markets.

But with the benefit of a 3-year rear-view mirror the AUD/GBP rate has been a great advantage to UK holders of MML.

That was the point I was emphasizing in my post and also that I felt it likely that the Forex trend would continue in the same direction for some time given the inherent weak outlook for the GBP in comparison to the AUD.

Personally, I bought and hold MML because of the fundamental story, not specifically as a hedge against the GBP. But there is no denying, in my view, that it is also likely to be a good hedge against a declining Pound in addition to being one of the better gold equities to hold in these troubled economic times.
CPDLC