Expert knowledge required???

Hello all,
I am relatively new to investing but have a fair understanding of businesses, valuations etc!

I am struggling with how so many of the large American corporations are being hit so badly on the strong dollar! I understand why it would hurt their foreign income - however can anyone explain why they haven’t bought forwards on currency in advance to protect or partially protect themselves?
Also - why don’t they keep the cash in Euros / Sterling etc until the rate is more favorable?
Thanks in advance for any and all advice. Appreciated!

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