Corporate hedge ratios reach record levels
NEW YORK – Corporates' hedge ratios are reaching record levels this year, with almost 80% of respondents to an annual survey looking for USD/JPY to move higher by 2011-end.
According the survey, conducted by JP Morgan and released last week, G-3 corporates have hedged 58% of 2010 foreign exchange exposures, which represents a survey record high for March. Last year, G-3 firms hedged just over 40% of same-year FX exposures.
In particular, hedging for two-year-ahead receivables by corporates is
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