Strength of the dollar has some investors worried, who believe that the currency headwinds could hurt US firms who do business abroad.
“The launching of the [European Central Bank]’s bond buying program coupled with another strong US employment report jumped started the euro’s slide, after consolidating mostly last month,” wrote Marc Chandler, global head of currency at banking firm Brown Brothers Harriman, in a note to clients. However, he added that the strength of the US dollar was flunted by other factors, such as the fact that bond yields and oil prices have fallen.One bright spot was clothing retailer Urban Outfitters. Shares in the firm rose nearly 9% after it reported better-than-expected fourth quarter results on Monday. The retailer – which appeals mostly to younger shoppers – said same-store sales rose by 6% compared to a year earlier, and net income was $80m for the three month period ending 31 January 2016.