| The instability of exchange rates against the US dollar has reduced the number of speculators in the market and instead made currency hedging a part of business strategy. Michael Judge, head of corporate clients at currency provider OFX, says the large movements of the US dollar against the Aussie in the past 18 months have made currency a business input rather than an opportunity to make profits or play the market.
He says in the month to May 25 the Aussie slipped from $US0.78¢ to 0.71.5¢, representing a slide that could eradicate most of an importer's profit margin if they settled invoices at spot rates...............................................Full Article: Source
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