Just a follow up on this. Of course lower $A means more cash for the company which must eventually be reflected in higher price. But so many times I have seen share prices rise with the dollar, not against it. So I had a look at an overlay of the $A rate against FMG. This is the result;
Even if we go back further there is no real change in the way in which both more or less rise and fall together. It says more about human psychology than anything else. Green in FMG of course, blue the $A/$US rate
should help, page-5
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Last
$21.41 |
Change
-0.260(1.20%) |
Mkt cap ! $65.92B | |||
| Open | High | Low | Value | Volume |
| $21.52 | $21.67 | $21.30 | $150.5M | 7.000M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 93 | $21.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.41 | 12657 | 3 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| FMG (ASX) Chart |