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Companies Brace for Profit Hit From Euro Rally

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The eurozone’s recent currency strength spells profit trouble for companies emerging from the Covid-19 crisis, including automakers such as Fiat Chrysler and Ferrari

The euro has climbed 5.6% against the dollar this year, its biggest advance since 2017. On Sept. 1, it surpassed $1.20 for the first time since May 2018.

The currency is near an all-time high on what is known as a trade-weighted basis. That means the euro has also strengthened against the currencies of other major trading partners, including...

 

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