The US dollar has surged to new highs against global currencies.
- In the two weeks since the US presidential election the dollar rose 2.65% against a basket of developed market nations’ currencies – reaching a near two-year high.
- The euro has slumped to a one-year low of $1.05. Deutsche Bank and JPMorgan have said the euro could reach parity with the dollar, which would be a two-year low.
- In Japan, the yen has depreciated nearly 10% against the dollar this year. This gives Japanese consumers less purchasing power.
Still, everyone envied the dollar and the power it gave Americans as buyers.
Now, the US is no longer seeing a strong dollar as an advantage.
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