For those that think currency moves might not be that big a deal, if you converted a US$1mill in Aug 2022 at the high, you would have received A$1,400,560. If you converted around two months later, you would have received $A1,612,903. That's a difference of A$212,343! Not insignificant! Even the smaller swings we are seeing more recently, over the last three weeks the exchange on US$1mill has moved from A$1.455mill to $1.532mill. Still a difference of $70,000 over just three weeks. Still a big difference!
