Turning the tide

New angles

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The Australian dollar’s rally since the turn of the year has prompted speculation that some of the country’s exporters may begin to unwind hedge positions that last year left them with vast mark-to-market losses, say bankers.

The steady rise of the Australian dollar to a high of $0.575 so far this year has made the millions of dollars in mark-to-market losses on the balance sheets of some of the country’s export-reliant companies more manageable, and could be the impetus firms have b

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