Currency headwinds cost companies $11bn

North American firms report more losses than their European counterparts, but the amount is falling

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Corporates in North America and Europe lost nearly $11 billion as a result of currency headwinds in the third quarter of 2016, according to the latest impact report from Fireapps, a specialist in currency analytics.

The firm's analysis of the earning calls of 1,200 publicly traded companies in both regions showed 263 reported a negative currency impact. More businesses in North America reported negative effects of currencies (218) than their European counterparts (45) in Q3 2016.

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