Currency Volatility Hits Corporate Earnings
July 26, 2019
Trade tensions, Brexit uncertainty and geopolitical events in the Middle East and elsewhere are driving a sharp increase in currency value losses at corporations and are having a major impact on earnings. In the first quarter of 2019, companies based in North America lost $1 million a day due to foreign exchange exposure, or a total of over $23 billion, according to the most recent Kyriba Currency Impact Report compiled by FiREapps, now a Kyriba company. This is the largest currency impact in more than three years.