Major exporters in the United States are starting to be pinched by the strengthening U.S. dollar as the Federal Reserve raises interest rates to push back on the soaring inflation afflicting the economy.

Since the start of March, right before the Fed started increasing its interest rate targets, the dollar has risen by more than 6%. The value has increased 8% since the start of the year and is now nearing the highest it has been in years, other than a short-lived spike at the outset of the pandemic.