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Currency Doldrums Spur Complacency Risk That Could ‘Destroy Profits’
The dollar’s tightest yearly trading range in more than four decades risks lulling corporate treasurers into a dangerous state of complacency. Intercontinental Exchange Inc.’s U.S. Dollar Index is on track for its narrowest annual trading band since 1976, with its 2019 high less than 5% above its low. A JPMorgan Chase & Co. gauge of foreign-exchange volatility lingers near all-time low levels reached in July. The subdued moves in the currency market have created an environment where corporations are becoming less willing to pay up for hedging protection they haven’t needed, according to Cambridge Global ... (full story)