FMG 1.61% $19.28 fortescue ltd

Seaborne takes a deep breather, SGX relaxes a bit more. Since...

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    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.
    https://hotcopper.com.au/data/attachments/3385/3385370-d0e9e437e8317e10e74fc4d51c633041.jpg
    https://hotcopper.com.au/data/attachments/3385/3385373-17ba29cba349237adf48230801ea1456.jpg
    https://hotcopper.com.au/data/attachments/3385/3385376-05a82b2f3fc9d2ccb0775418beda5ee5.jpg
 
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