August 31, 2022
(Barron's) - Even for mighty Microsoft, $595 million is a lot of money. That’s how much the software giant’s sales were reduced in the most recent quarter by the ever-stronger U.S. dollar.
Indeed, a broad range of U.S. large-cap companies have been trimming forecasts due to a drop in repatriated profits that results from dollar strength.
Yet near-term sales and profit trends are just the tip of the spear when it comes to the impact of a strengthening dollar. Of far greater importance is the potentially damaging global economic effects...
By David Sterman
