BlackRock's Fink worries about impact of rising dollar

April 7, 2015 5:40 AM

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BlackRock's Fink worries about impact of rising dollar

(Reuters) - The rising value of the dollar is hurting American businesses and could ultimately result in a slowdown in future U.S. growth, BlackRock (BLK.N) chief executive officer Larry Fink warned in a letter scheduled to go out to shareholders next week.

The dollar's gain of 25 percent since July against a basket of major currencies has landed a double whammy on U.S. companies with big sales abroad. Revenue and earnings from foreign markets are worth less when translated into greenbacks, and their costs become relatively less competitive against riv...

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