Not necessarily the share price, but the bottom line. Yes, that is a correct assumption. LYC sells in US Dollars, as I recall, so the "more dollars" from Dollar strength allow you to covert your receivables into "more" Australian Dollars.
However, looking at the Yen and the basket of world currencies, the Dollar was top heavy, and has been losing ground for the last few days, after the Federal Reserve intimated that there may be a pause on raising interest rates.
I, for one, am playing YCL options which is a double velocity Yen to US Dollar EFT, which was paying like a slot machine the last few trading days. Bought at ¥150.20. The is historically low for the Yen.
With rates stabilizing in the USA (for the time being), the Dollar should now drop, with will have an inverse affect on quarterly results. NOT negative results, but impactful.
The Dollar should be closer to ¥144, given the pause in rates and lower inflation.
GLTA
LYC Price at posting:
$6.80 Sentiment: Hold Disclosure: Held
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