"Tarver Engineering" wrote in message
...

The Euro tanked, while the pound held above $1.60. If BA made their
purchase at the two euro to the Pound rate, they did very well on the
deal.
AI exists under a complicated interleaved set of money hedges.



What on earth are you talking about. The pound started at, what, 1.70 Euros
equivalence - I bought a stack at that level. Even given good forward Forex
buying, there is no way that BA could have hedged at two, especially given
the timing. And it's now at 1.43-ish or thereabouts.

Ali