Interesting observation from a recent morning news meeting.
When results are bad multinationals tend to blame, at least in part, currency volatility. It's akin to retailers blaming weather for bad sales.
We'll see if the latest earnings season and the ongoing currency battle bears that out. In the meantime, you can check out Jeff Cox's more thorough treatment of the currency wildcard in corporate earnings.
Another observation. When currency or weather is working in a company's favor, you generally don't hear about it. You just hear them saying how effective their management is.