US corps increase hedge ratios
NEW YORK - US corporates built up the highest hedging ratios for 2009 FX receivables among G-3 companies in the first quarter of this year, in anticipation of dollar weakness, according to a JP Morgan survey.
The survey, released March 13, revealed that as of March 6, US corporates had increased their 2009 hedging ratios to 69%, up from 42% recorded in the bank's December results. The bank said the rise reflects expectations for a dollar decline against the euro to $1.26 by the end of this year
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