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A strong dollar is great if you're traveling abroad, but not so fun for American corporations trying to sell stuff to foreigners.

The dollar's ascent to an eight-month high ate into the quarterly sales and profits of S 500 companies that maintain a major presence outside the US, according to an analysis published Thursday by The Wall Street Journal. Unfortunately, rising economic confidence at home coupled with weak outlooks in Europe and Asia -- compounded by yet another European Central Bank interest rate hike on Thursday -- is likely to only make matters worse.

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Source Fool.com