Frankfurt Many US companies are unlikely to be very happy about the foreign exchange market at the moment. In the past few months, the US dollar has appreciated sharply against other major currencies.
However, this has an annoying effect for many companies. According to the US financial data provider Factset, the 500 largest US companies listed in the S&P 500 generate around 40 percent of their revenues outside the US. A rising dollar therefore means for them: The value of the money earned abroad falls.
Since the beginning of June, the US currency has gained around five percent against the euro, around four percent against the British pound and around three percent against the Japanese yen. According to experts, this upward trend could continue for some time.
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