The Canadian venture capitalist Mr. Wonderful has weighed in on his thoughts on how to make the most of the rising US dollar. “The U.S. dollar has been rising against other major currencies such as the loonie for months now. It is currently hovering around a mid year high and there are no signs of it slowing down quite yet.” He said. Many factors may be contributing to this, not least of all the on going issues with trade talks, however world markets find safe haven in the U.S. dollar when economies are uncertain. Multinational companies such as Procter & Gamble, US Steel, or Microsoft tend to suffer when the dollar strengthens against other major currencies. The reason is due to the fact that it costs other countries more to buy American products in dollars. While American companies may suffer due to the rising dollar, investors can profit.
Here are 3 ways to take advantage of a strong U.S. dollar