Dollar’s Rise Reshuffles Global Economy Into Winners and Losers

The rising U.S. dollar is redistributing growth throughout the global economy.

The greenback’s ascent to the highest in a dozen years on a trade-weighted basis is eroding the competitiveness of the U.S. and countries whose exchange rates track the dollar, including China. It’s also pushing down commodity prices, hurting producers such as Brazil, and threatening other emerging markets where companies borrowed in the U.S. currency when it was cheaper.