European Firms Are Most Worried About FX in Four Years (Correct)

European companies are the most worried about the impact of currency fluctuations in four years, with the euro’s strength in 2025 eating into earnings outlooks.

Mentions of “currency headwinds” in filings and earnings calls among Stoxx Europe 600 companies that have reported so far have risen to the highest level since the first quarter of 2021.

Despite a recent rally, the dollar has plunged about 10% against the euro in 2025 amid unease with the US administration’s economic agenda, in particular President Donald Trump’s tariff policies. The euro has also been propped up by rising confidence in Europe’s ...