The AUD vs USD has spiked up at the same time the DXY has spiked up (USD vs basket of other currencies). Obviously since BYE shares are in AUD, if it remains constant then the company is worth more in USD Terms.
So why is the AUD rising? The only thing I can think of is the announcement that AU is selling coal to support the Ukraine. Yeah, no. I don't see a AU coal barge braving the Black sea and offloading at Odessa under the Russians noses. What I do see is the Ukraine electric grid being connected to the EU one and AU coal being delivered to the EU (Germany?) for electricity generation. If this is true it means the AU now have a deal with the EU to supply coal. And if the EU is going to turn it's back on Russian gas this could be quite a long term deal. This will support the AUD long term. Meaning using BYE as a hedge against the fall of AUD is a less likely event.
Anyway, Thought I would share. Have a great week everyone.
All disclaimers
BYE Price at posting:
15.3¢ Sentiment: Hold Disclosure: Held
