FX Hurts North American Profits

According to a recent report, currency exchange fluctuations reduced North American corporate profits by $11.55 billion in the third quarter of 2019. The loss amounts to an average reduction of $.03 in EPS. The euro was the currency which caused the most losses, affecting about 46 percent of companies. The British pound, Argentine peso, the Australian dollar, and Chinese yuan were next on the list of most impactful currencies.