June 22, 2022
Coca-Cola, Microsoft and Salesforce are among the companies that have pointed out the negative effect of the strong dollar on their financial results
Companies are reviewing their hedging strategies in light of the strong U.S. dollar, which is denting the value of overseas earnings. The strength of the currency also is making some American products less competitive overseas, forcing businesses to look for ways to cut costs as they struggle to maintain margins.
The dollar in recent months has appreciated significantly against other currencies as weaker global economic growth drives investors toward safe havens. Steps by the Federal Reserve to tighten its monetary policy and increase interest rates also support the dollar.
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