Each time a new year dawns, the outlook for global currency markets brings new foreign exchange concerns to light amid projections of looming geopolitical, economic, and social events. For 2019, we can predict many events that we might reasonably expect to affect the U.S. dollar, including Brexit, Italy's budget crisis, and the added uncertainty in the European Union (EU) as a result of Angela Merkel's decision not to seek re-election. However, 2019 will undoubtedly also bring unexpected events, which aren't necessarily related to a specific country or currency and which will catch the market by surprise. In addition, some events that we may expect to happen will end up having unexpected impacts on currencies.

Corporate treasurers and financial risk managers need to be preparing now for events in each of these categories. The events themselves may not necessarily be good or bad, but any organization that fails to prepare for their effects will likely end up getting hurt in the fallout.