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The foreign currency value of the dollar has been rising. The nominal broad dollar index of the Federal Reserve shows the dollar has increased by about 9% since its low point a year ago while other indexes register larger gains.
The dollar’s appreciation will also have an impact on the foreign-based revenues and profits of U.S. based multinationals.
The impact of the appreciation of the dollar will spread far outside U.S. borders. These effects will occur in countries already grappling with higher food and energy costs, and the consequences of a slowing Chinese economy.