Move over, harsh winter weather. This earnings season, companies have a new whipping boy for any weakness on either their top or bottom lines. It’s the dollar.
The U.S. currency has strengthened significantly since the start of the year. The ICE dollar index, which measures the strength of the greenback against a basket of six currencies, has gained 8% in the year so far in anticipation of a U.S. interest-rate hike some time this year. The index is up a stunning 22% in the last 12 months.
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