Originally Posted by
nztx
Wouldn't FX exposure valuation movements be provided for in each period though .. rather than being delayed
until later when the forward cover is used/applied for purchases ?
Volatility in rates could result in larger inter-period gain & losses in FX position valuations IMO
If I'm not wrong a deteriorating rate move in valuation of end of period cover should be being booked in each
reported period, including interims
In any case the market didn't seem to like the announcement, closing -20c (-7.14%) @ $2.60