Hillary Clinton

UK Exporters Gambling On Clinton Victory Could Lose £34.6bn Should Trump Win

UK Exporters Gambling On Clinton Victory Could Lose £34.6bn Should Trump Win

UK small businesses that have gambled on a Hillary Clinton victory in this week’s US presidential election are exposing themselves to a £34.6bn currency risk, according to World First. The Global Trade Barometer, which surveyed 679 UK small businesses, has suggested a shock win for Donald Trump could be problematic for some UK exporters as the safe haven currency, paired with volatile sterling, could leave those who have gambled on a Clinton victory in a “difficult position”. 28% of UK firms currently trade in US dollars and businesses who buy in US dollars have shortened the length of their forward contracts significantly, dropping from an average of 90 working days per contract to less than 70 days – a decrease of over 22%. With parallels being drawn between the US election and Bre... »