THE U.S. DOLLAR: It is Strong!

By Staff Reporters

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The dollar’s still strong—and recent earnings reports have reflected that, for better or worse.

Around this time last year, earnings took a significant forex hit. Power players like Coca-Cola and Procter & Gamble said the strong dollar hurt profits, while others, like Microsoft, cited currency fluctuations in lowered forecasts.

Back then, the dollar was at a 20-year high. In recent months, the dollar has stayed relatively high as a string of economic data suggested interest rates will stay elevated—at least for now. And after Federal Reserve Chair Jerome Powell suggested the Fed might have to keep raising rates, the US dollar index climbed to its highest since June 1st.

In any case, foreign exchange rates are yet again cropping up as a talking point in recent earnings reports.

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