Corporate America Faces Potential Currency Hit as Dollar Climbs
- North American firms had smallest FX blow in two years in 4Q
- FX volatility is showing small signs of life so far in 2024
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Foreign-exchange volatility is picking up after a lull in the fourth quarter, when multinationals saw currency-related headwinds on their bottom line drop to the lowest level in more than two years.
The negative hit to North American corporate profits from currency swings totaled $2.6 billion in the final three months of last year, the smallest amount since the third quarter of 2021, according to a report Thursday by corporate treasury management company Kyriba Corp.