The dollar has been rising steadily since Americans elected Donald Trump as president. That’s bad news for companies that sell goods and services abroad, and some investors are ready to blame Trump for weak earnings due to the strong dollar.
But companies were already complaining about the strong dollar long before Trump was on deck for the Oval Office. There were plenty of instances of companies pointing to currency issues as an explanation for low earnings earlier this year.
Some of the big names that noted currency headwinds were Whirlpool, Kraft Heinz, Apple, Procter & Gamble and Alexion Pharmaceuticals. A strong greenback makes it more expensive for buyers in foreign countries, who are usually spending their own currency, to buy U.S.-made goods that are priced in dollars.
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