For Exporters, It's Follow The Bouncing BuckMike Mcnamee
The dollar's slide against the yen and the mark may have ignited panic in Tokyo and Bonn, but it's sparking profits for U.S. business. Even before the dollar hit its recent low of 79 yen, U.S. companies with operations abroad were posting big first-quarter gains as their sales in foreign currency translated into more dollars back home. Furthermore, since the buck's latest drop is just beginning to boost export sales, profits--especially for exporters of capital goods and equipment--are likely to get a second currency kick.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.