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Wild Currency Swings Take $34 Billion Bite From Company Profits

October 18, 2022

A surging dollar and weakness abroad whacked North American corporate profits by an unprecedented amount in the second quarter, foreshadowing an even worse hammering this earnings season. Currency volatility cost North American companies $34.3 billion in the April to June period, the highest loss on record in data going back to 2013, according to Kyriba.