By Leonie Barrie

Julia Hughes, president of the United States Fashion Industry Association (USFIA), said she has so far seen a muted reaction to the currency situation from her organisation's brand-heavy membership.

"Maybe it really is too early to tell how this will play out," she told just-style. However, reflecting today's stock market instability, she added: "Maybe the real impact will be what happens to the stock markets around the world."

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