I'm not so sure.
Yes ACV will be impacted when converted into AUD, but a good part of costs are also in USD, which will decrease upon conversion, and Nth Am is loss making.
I think the market is probably more interested in percentage growth rates in the NA, and not just dollar values.
The above would serve to blunt any impact of the higher AUD, even negate it(?).
on the nose, page-6
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