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The strength of the U.S. dollar depends on the strength of the U.S. economy relative to the economies of other nations is true.
What determines the strength of the U.S. dollar?
Against the currencies of other major economies, the dollar has been strengthening. The US economy is stronger than those of many other nations, and the Federal Reserve is consistently boosting interest rates, which supports the US dollar's strength.
In contrast, a strong home currency hinders exports while promoting imports, and vice versa, a weak domestic currency encourages exports while raising the cost of imports. Prices are under pressure when a nation's currency depreciates against the dollar due to higher import costs for goods coming from the US. More foreign currencies can now be purchased with a stronger U.S. dollar than in the past.
To learn more about U.S. economy, visit:
https://brainly.com/question/28013505
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