In the short term, say 6 to 12 months, ARB can just protect itself against the currency fluctuations with FX hedges, and they probably have a few forward sales in place. Only in the long run it will be harder, when one has to renew the forward agreements. ... But then, in the long run we are all dead (J M Keynes, with respect).
In the short term, say 6 to 12 months, ARB can just protect...
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