| North American and European companies doubled their currency losses in the third quarter and the trend is intensifying, according to an upcoming report from FiREapps. “There is continuous, increased volatility going into yearend,” said Wolfgang Koester, chief executive of FiREapps, a currency risk-management consulting firm.
Companies in the third quarter lost $8 billion, split evenly between U.S. and European firms. That’s more than twice the $3.9 billion in losses reported during the second quarter. To put the currency swing into context, Mr. Koester noted the losses last quarter, on an annualized basis, equate to 640,000 jobs paying $50,000 a year...............................................Full Article: Source
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