(Eli5)Why will US companies, or companies in general thrive when US dollar value is strong? Does it have something to do with currency conversion?
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A strong US dollar is great for importers and bad for exporters.
If you’re buying raw materials from somewhere, having your currency worth more of theirs makes it cheaper to buy from them. You can import more for the same USD cost.
If you’re trying to export though the reverse applies – your goods are now more expensive to someone trying to pay in a different currency.
It’s good on average for the US consumer because we import more than we export, but certain export focused industries will suffer.
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