The U.S. dollar has remained very strong in 2015 as the U.S. economy has expanded at a faster rate than many of its competitors. Some countries have encouraged weakness in their respective currencies and the U.S. dollar has been a major beneficiary. The greenback is the world’s dominant currency and is close to a 12-year high against both the Euro and the Yen.
Against emerging market currencies and commodity-based currencies the U.S. dollar has surged in 2015. In 2013, one U.S. dollar was worth less than one Canadian dollar – today it is over 30% higher, one U.S. dollar is currently worth $1.33 CAD. It is a similar situation with the Australian dollar as the collapse in commodities and concerns about the Chinese economy has resulted in a sharp fall in the Australian dollar. In 2013, one Australian dollar was worth more one U.S. dollar – today, approximately 70 U.S. cents are equivalent to one Australian dollar.
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