Document1 Layout References Mailings Review View A A A A A E L 23 A x A2AEEEE 2- 21 ABCDE ABCDE AaBCCDC Na Spacing Headings Bbc Heading Assignment THREE: Please see BB- Assignments FX : As a US corporate treasury manager looking at FX exposure to Japanese yen sales (receivables) and euro purchases (payables) for the coming year - assess the impact a stronger US dollar may have on the USS value of these expected cash flows: 1. If the yen and euro exposure is not hedged, how does a stronger USD impact the expected cash flow for each ? 2. Would you recommend the manager hedge all, none or a portion of the currency risks? Why? What would impact your recommendation? 3. If the manager opens a local yen account for collecting receivables - does this mitigate USD/JPY risk? Why? Is this a viable option? OOOOOOOOOO