The U.S. dollar has taken a hit this year amid geopolitical tensions and the Trump administration's failure to deliver on its campaign promises. The currency's woes serve as a reminder of the need for companies that do business globally to manage the risks involved in their foreign exchange exposures.

As of Monday, the Bloomberg dollar index, which tracks the dollar's performance against 10 other major currencies, closed at 91.875, down 10.1% from 102.21 at the end of 2016.

"The dollar's been falling all year due to a declining optimism about Donald Trump's growth agenda and also asynchronous global expansion," said Karl Schamotta, director of global market strategy at Cambridge Global Payments in Toronto. As other countries' economies pick up steam, "funds are flowing into the euro area and into the emerging markets—and out of the United States," he said.

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