The American dollar has been falling throughout 2007, and our international customers are taking notice. As of this writing, the euro has reached a record high against the dollar, while the Canadian dollar is at par with the US dollar for the first time in more than 30 years. The British pound is hovering at around $2.05 to the US dollar, and even the Australian and New Zealand currencies have risen to about 87¢ to 75¢ on the dollar, respectively.
The impact of the falling dollar is rippling through the global economy in many ways, but in practical terms, the recent drop in the US dollar’s value is making American-made goods a lot less expensive for businesses and consumers in most other counties.
According to an article in the New York Times, many traders and economists are predicting that the dollar will weaken further because the American economy is expected to underperform its biggest trading partners for some time. “The market is pricing in a shift in Fed policy downward, and the rest of the world is not matching,” said Carl B. Weinberg, chief global economist at High Frequency Economics. “That can only mean a cheaper dollar.”
What this means for you
For our international customers, the falling dollar means that Onboard System's high-quality products are a better value than ever. If you are considering upgrading your equipment, or trading in your OEM cargo hook system for a replacement Onboard System, visit our website or give us a call. Whatever your currency, we'll be happy to help you get the most value for your money.