Alphabet, Micron ramp up FX hedging
Tech pair leads FX derivatives surge in year to Q2, while notionals at Apple and Johnson & Johnson decline
Alphabet and Micron saw the biggest year-on-year increases in foreign exchange derivatives notionals among large US corporates, while Apple and Johnson & Johnson cut their positions sharply, according to regulatory filings.
FX Markets analysis of Q2 filings from non-financial companies in the S&P 500 to the US Securities and Exchanges Commission showed that in notional terms, Alphabet saw the biggest year-on-year increase in its reported FX derivatives notionals of any firm in the sample.
The tech
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