You are correct. Although, most firms have annual pricing cycles so it could be that many companies have just locked in their prices and are taking advantage of the f/x conversion for now. I have to believe though that if demand from the US for European products starts to wane, that you may see some of that profit passed on to the consumer in the form of pricing concessions/cuts. Most manufacturers will not like to cut price outright but may provide temporary incentives/discounts but will keep list pricing as is. I am sure Ivan has a better feel for how many of the European lines he represents are going to deal with this going forward.
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