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UK SMEs Unprepared for Impact of Brexit on FX Costs
UK small- and medium-sized businesses (SMEs) remain exposed and unprepared for the economic impact of the Brexit vote on their FX costs, according to a survey by EarthportFX, a cross border payment network. Despite the fact that 77% of survey respondents acknowledged the need to change their approach towards foreign exchange hedging in the face of highly volatile currency markets and the depreciation of the pound following the UK's decision in June to leave the EU, 80% admit they have made no changes to their hedging strategies.

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