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The Hudson Highland Group Inc. (NASD: HHGP), a global staffing company, said at an investor conference this week that foreign currencies are falling against the dollar and could cut Hudson's adjusted EBITDA by up to $1.5 million in the third quarter, according to a filing with the U.S. Securities and Exchange Commission. Hudson estimated third-quarter EBITDA of between $8 million and $11 million.
Overall, July and August were weaker than expected in most regions, but September appears stronger than the previous two months, the company said at the conference. There was also economic weakness at various locations around the globe.