The Financial Post reports in its Thursday edition that North American companies affected by currency fluctuations are increasingly hedging against exchange rate risks. A Bloomberg dispatch to the Post reports that a Milltech survey found that over 90 per cent of senior finance leaders in the United States and Canada are taking protective measures, up from 80 per cent two years ago. The quest for protection has led finance executives to report higher hedging costs compared with 2024. The U.S. dollar experienced its worst first-half performance since the 1970s, surprising corporate treasurers and investors. Over two-thirds of 250 U.S. and Canadian companies surveyed by Milltech reported that trade-related currency volatility has negatively affected their profitability or competitiveness in international markets. For banks catering to corporate clients including Citigroup, Wells Fargo, BNY and JPMorgan, market volatility and the new-found focus on hedging currency exposure helped boost second quarter earnings. Citigroup chief Jane Fraser said, "In fixed income, the flows we saw in rates and currencies were particularly strong, backed by client momentum, including hedging activity as well as improved monetization."