By Jieying Ding
currency
euro
Jieying Ding
The rise of the dollar
versus the euro and most other currencies sends a strong signal that U.S.
economy is doing far better than its counterparts in Europe, achieving a 5
percent GDP growth in the third quarter of 2014, according to the New York Times. While the business
community welcomes a stronger U.S. economy, things have gotten a little tough
for U.S. exporters. Firms that must pay workers and buy raw materials in now
depreciated currencies are saving money without having to cut pay, an advantage
U.S. exporters don’t have. Although U.S. exporters are not complaining now,
it’s likely that if the appreciation continues, they’ll pressure for diplomatic
action to help reverse the trend.
Stronger Dollar Has Mixed Impacts on U.S. Exporters
February 06, 2015
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