UPDATE 1-VW hedges more sales as euro strengthens

Newswire

(Adds background, shares, changes dateline from FRANKFURT) HAMBURG, Dec 19 (Reuters) - Europe's biggest carmaker Volkswagen said on Friday it had raised its hedging level to protect it from the euro's strength against the dollar, which is eating into earnings from exports to North America. "We have raised our hedging to 70 percent," a VW spokesman said. VW, which had previously hedged about two-thirds of its sales in dollar or dollar-linked currencies through financial instruments and ...

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