North American corporates lose $11bn on FX volatility
Almost six times as many companies reported currency headwinds in third quarter, FireApps analysis shows
North American businesses saw $11.81 billion in foreign exchange losses in the third quarter of 2018, as a result of market volatility driven by geopolitical events – the largest impact recorded in more than 10 quarters, according to a report from FireApps.
Meanwhile, the number of North American companies reporting currency headwinds in the period increased to 265, a nearly sixfold rise over the previous quarter, the currency risk management consultancy’s analysis shows.
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