Dollar's Stubborn Strength Dents Earnings Cheer

Many market participants believed the dollar would fall on the back of interest rate cuts that both investors and the Federal Reserve had penciled in for 2024. Those cuts are yet to come, and the U.S. dollar index, which measures the greenback's strength against a basket of currencies, is up 4% in 2024 and has climbed about 16% in the last three years. While those gains reflect the relative strength of the U.S. economy, a rising dollar can be a problem for some companies. A strong U.S. currency makes it...