The US dollar is getting stronger against the world’s major currencies. This is expected to have a significant impact on global trade and commodity prices in the coming months.

The construction industry stands to benefit from the dollar’s increased purchasing power – imports are becoming comparatively cheaper and this should provide some relief from the uptick in commodities pricing over the last two years.

As the dollar gains ground against the Pound Sterling, Euro, and Japanese Yen, it is important to note that this is due to these countries’ fights against inflation rather than strong growth here in the US. Countries across Europe continue to grapple with rising inflation and gnarled supply chains more than a year into Russia’s invasion of Ukraine. This could give American businesses a competitive edge in international markets. It is important to note that this can also make American exports more expensive abroad and potentially reduce foreign demand for our goods. It will take time for these effects to be felt, however, and it is therefore important to await new developments in the market.