FX is also a management decision. We had this conversation about 8 months back when A$ was .78 or so. Hamish and MFG was criticised for stopping the hedging of currency. This was deliberate act the benefit is for MFG. If you had invested in A$ or hedge the FX investments, MFG would have not got the benefit. I myself said at that time that I worked at places without hedging in FMCG companies.
MFG Price at posting:
$29.02 Sentiment: Buy Disclosure: Held
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