Cardoso has resisted increasing pressure from Brazilian exporters who feel the strong currency
has made their products less competitive compared with Asian exporters whose currencies have been depreciated.
SAP had a very strong performance in the third quarter, considering the mixed macroeconomic environment and the strong currency
But it must be said that countries like Germany succeeded for decades thanks to their strong currency
, which forced them to be more efficient than their competitors.
The November poll found that 83% of fund managers expect the Euro to be a strong currency
, compared with 88% in the previous poll.
It is however expected that a strong currency
and early signs of cooling inflation pressures could slow the pace of further tightening.
Holden has said the strength of the Australian dollar is the primary reason for this decision, with the strong currency
translating to lower than expected sales of the locally produced Holden Cruze.
For the last 50 years, Germany has prospered with a strong currency
and BMW has prospered with it.
Citing the Riksbank as an example, the HSBC research media team explained that the ECB needs to become far more vocal and explain in detail threats posed by a strong currency
to its inflation mandate.
Moreover, businesses find it increasing difficult to remain optimistic on the back of tighter lending conditions and declining demand from domestic and global consumers alike, largely due to a strong currency
. Canadian Economy Fundamentals The once immune Canadian economy has recently joined the list of economies that have been hit by the mortgage debacle.
Lloyds TSB Commercial's Birmingham-based regional international business manager, Mr Mervyn Phillips, said: "Firms have had to work harder and smarter against such a strong currency
Governor Amando Tetangco said, 'The BSP has experienced losses from the combination of reserve build-up in the face of capital inflows, strong currency
appreciation, sterilization to manage domestic liquidity, and low reinvestment returns on dollar assets relative to cost of sterilization.'
Mr Mervyn Phillips, regional international business manager for Lloyds TSB Commercial, said: "Exporters in the Midlands have had a long fight to remain competitive in the face of such a strong currency
. It is a credit to their adaptability and innovation that they can now look forward to reaping the rewards of their efforts.