“The dollar has never been so strong for a quarter of a century”, thereby depreciating the other currencies and “shaking up everything from the cost of vacations abroad to the profitability of multinationals”, notice The New York Times.
US currency “oils all the cogs of the world economy”, representing “90% of foreign exchange transactions”, that is 6 trillion dollars a day of trade in the world before the pandemic, “from tourists using their credit card to companies making heavy international investments”, recalls the American daily. Inasmuch as “the most important currency in the world”, elle “often appreciated in times of trouble”, being perceived by investors as “relatively stable and secure”. In recent months, as inflation has risen, interest rates have risen again and growth has lagged, “the dollar has gained ground”.
To measure its strength, the New York Times compares the dollar to a basket of currencies of the main economic partners of the United States, from Japan to the euro zone. Results : “The dollar has never been so strong for twenty years, having gained 10% this year”, an increase “considerable”.
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