US multinationals grapple with soaring dollar

Quick Summary AI Powered

NEW YORK: The rapid rise of the US dollar since the start of the year is a double-edged sword for American multinational companies, pushing some of them to decide whether to hedge or reposition their activities abroad to avoid fallout.

The current high volatility in foreign exchange markets also means it costs more to hedge, so some firms are choosing not to use those instruments.

Kyriba estimates the currency effects could mean a US$40 billion hit to earnings of S&P 500 firms in the first half of the year.

---

More Pictures

---

or

Read Full Article5 minutes

Want your news featured here?

Article Details

Category: Economy

Topics: Warned Foreign Companies Dollar Firms Rate Currency Year Exchange Dollars Revenue

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-07-03, 10:52:00

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Reading Time: 5 minutes read

Article Length: 775 words

Coverage Area: Singapore

Availability: Desktop Web, Mobile Web

News ID: 27063

View Article Analysis

About Channel News Asia

Main Topics: Economy

Official Website: channelnewsasia.com

Update Frequency: 62 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 2h ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #27

Publisher Details