Corporates defend macro-hedging strategies
Macro effects need to be managed by whole business, say treasurers
Corporate treasurers need to "get off their backsides" and speak to other areas of their business to effectively manage macro risk, said a former group treasurer at the Association of Corporate Treasurers' annual conference in Glasgow this week.
Big moves in some emerging market currencies and the strength of sterling this year have affected first-quarter earnings for a number of big corporates, with foreign exchange translation losses amounting to the millions in some cases.
These losses have
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