Same Strong Euro, New Economic Landscape
The euro hit another high against the dollar on Sept. 24, reaching $1.413 before falling back a bit, and some European exporters are starting to feel the pinch. Speaking on French radio Louis Gallois, chief executive of European aerospace giant EADS (EAD.PA), said that every 10¢ rise in the euro against the dollar would cost the company €1 billion ($1.405 billion) in operating profit. Airbus chief operating officer Fabrice Brégier added that the airplane maker may have to turn to more suppliers outside Europe if the euro holds its strength against the greenback.
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