The effects of a lower dollar are yet to fully wash through. Steve Johnson, CIO at Forager Funds, has had his portfolio ready for a fall in the Australian dollar for 4 - 5 years. With the dollar having fallen 15% - 20% in the past six months Johnson says he still thinks the benefits are yet to fully wash through the markets. You are going to see a lot of Australian businesses that are a lot more competitive now than there were three years ago because they can sell their products cheaper and still make a profit. So you can actually get a lot of volume growth out of a lower exchange rate as well as just the translation effect. In this video Johnson gives two examples of companies he believes will benefit from this theme.