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Velo’s Vineyards
Pty Ltd

By now you have established a good client relationship with Velo’s Vineyards and have a scheduled phone call with the CFO to touch base tomorrow morning.

You hear on the news that there has been a rise in commodity prices which has resulted in an appreciation in the AUD/USD. From your conversation with the Global Markets Specialist, you know that Velo’s Vineyards receive USD 24m per annum from their exports and have only hedged 20% of that exposure.

Which of the following statements is true in regards to the unhedged portion?

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