Currency hit to North American companies' results rises to US$10.8 billion

The negative impact of currency fluctuations on North American companies' first-quarter results rose from the preceding quarter but was well below its year-ago level, according to data from treasury and financial management firm Kyriba on Tuesday.

The collective exchange rate impact, including on companies in the United States, Canada and Mexico, was US$10.77 billion, compared with the US$7.99 billion negative effect in the fourth quarter of 2019, Kyriba said in a report.The results show"a small, but increasing upward trend after a three-quarter decline in headwinds," according to strategists at Kyriba.

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