Table 1: Foreign currency Forecasts: Source NAB September 28, 2020

(https://www.nab.com.au/business/international-and-foreign-exchange/financial-markets/exchange-rate-forecast)

You are a CFO of an Australian company with a liability of USD 1 million due in December 2021. You have receivables of 10 million Japanese yen due in December 2021. Assuming that the forecasts given in table 1 are accurate and using the forward rates for AUD/USD and AUD/JPY, does it make sense to hedge a) your payable in USD; b) your receivable in JPY? Illustrate with data obtained from internet sources / IRESS trading room. You may use forwards/futures/options on the relevant currency pairs (if available).