About a year ago, it still took about 1.40 US dollars to buy one Euro, and today they’re almost on par. European tourists will find the United States a lot less attractive as a holiday destination, and European companies that have obligations in dollars are seeing their costs explode. What may look like a crisis to some, however, comes as a blessing to others. Products manufactured in Europe all over sudden are a lot more affordable to American buyers. As the Wall Street Journal reports on March 13, exports by most Italian or French luxury good producers to the United States are up. Ironically, some European companies that have been more careful by hedging their orders against long-term currency risks are not seeing such positive effects yet. On the other side of the Atlantic, export companies are hurting from the dollar’s recent surge.
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