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The foreign exchange market has hit some big bumps over the last couple of years, including the United Kingdom’s unexpected vote to leave the European Union and the surprise results of the U.S. presidential election. The resulting volatility has provided corporate treasurers with a reminder of the risks involved in their companies’ foreign exchange exposures.

With the U.K.’s exit from the EU a work in progress and U.S. President-elect Donald Trump gearing up to make changes once he takes office in January, the currency markets are expected to see more swings in the year ahead.

Richard Bibbey, the global head of foreign exchange cash trading at HSBC, notes that recent events suggest that polls and expectations are becoming increasingly less accurate.

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