Currency headwinds grew by 215% to nearly $7 billion in Q4 2021 according to the latest Currency Impact Report (CIR), which details the impacts of foreign exchange (FX) exposures among 1,200 multinational companies based in North America and Europe.
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A few highlights include:
- North American companies experienced a 390% increase in aggregate headwinds, while FX-related losses increased by 88% for European corporations.
- Earnings per share impact in North America was $0.04, four times greater than the industry standard MBO of less than $0.01 EPS.
- The euro was the currency most European companies mentioned as impactful, while the Canadian dollar led for North American companies.
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