Will a Strong Dollar Stymie US Economic Recovery?

February 16, 2010 /EIN PRESSWIRE/ Thanks in part to the pressure Greece’s financial situation has put on the euro, the US dollar has seen a resurgence in value recently, hitting a 9-month high against the euro. However, what’s good for the dollar could be bad for the US economy and its quest to put people back to work.

The weaker dollar made US exports more affordable for importers, helping boost the US manufacturing sector. However, as the dollar rises in value, the exports become more expensive — and less competitive, putting a dent into President Obama’s goal of doubling exports over the next 5 years and creating 2 million jobs.

According to the Peterson Institute for International Economics, every 1% increase the dollar sees against other major currencies knocks US exports down by about $20 billion annually and leads to the loss of some 150,000 jobs.

Read more about the dollar and exports at International Trade News Today:

Latest Export & International Trade news – http://trade.einnews.com/news/export-international-trade

Located at http://trade.einnews.com, International Trade News Today is a service of EIN News, an industry leader in news monitoring for business professionals and analysts. Using a combination of proprietary search technology and human editing, EIN News delivers to its members the latest trade news from around the world, saving them valuable time they’d spend searching for information. New users to International Trade News Today can enjoy a no-obligation, one-week free trial.

About EIN Presswire
The EIN Presswire press release distribution service is a news-syndication solution that distributes news to more than 10 million visitors annually at EIN News and millions more through its press release distribution partners. A news source for leading journalists, decision-makers and industry professionals worldwide, EIN Presswire targets press releases to a wide array of worldwide business professionals in more than 80 different industries. EIN Presswire also offers affiliate network opportunities and news distribution to tens of thousands of news subscribers daily. Read the newest business news at http://www.einpresswire.com and the latest world news in more than 80 different industries at http://www.einnews.com.

ABOUT THE AUTHOR: