"bigger because AUD has lost value against USD"Blakesley's...

"bigger because AUD has lost value against USD"

Blakesley's Post:
"Slightly bigger than last years contract as well $2.9m versus $2.6m AUD or 1.925M versus $1.775M USD"

AUD2.9 / AUD2.6 = 1.1154
USD1.925 / USD1.775 = 1.0845

USD1.925 / AUD2.9 = 0.6638
USD1.775 / AUD2.6 = 0.6827
(0.6638 - 0.6827) / 0.6827 = -0.0277

1.0845 / (1 - 0.0277) = 1.1154

So exchange rate is down approx 2.77% between the 2 announcements, while the USD contract value is up approx 8.45%, resulting in approx 11.54% increase in AUD terms.

The AUD has been range trading and is essentially flat against the USD over the last year:

https://www.xe.com/currencycharts/?from=AUD&to=USD&view=1Y

Will be interesting to see where it goes now with the Trump factor back in play.