Seaborne takes a deep breather, SGX relaxes a bit more.
Since May we have averaged above $210
AUD buying 73cents in a very strange but welcome anomaly. During the last time boom we hit a high of ~ $190US in early Feb 2011 the Aud was flying and we smashed through parity soaring to $1.10 at one point.
FMG hedges currency to manage its risk but this is a dynamic process. This is a rare time & I've little doubt we have changed out tactics a bit to accomodate this currency anomaly to help more profits flow through.
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