How has the strong US dollar affected the luxury retail market in the UK, particularly in the fine w

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The strong US dollar has had a significant impact on the luxury retail market in the UK, particularly in the fine watches and jewelry segment. With the US dollar peaking at 92 cents to the pound last September, American tourists flocked to London, boosting luxury shopping sales. Harrods reported a 40% increase in North American visitors and a record-breaking year for fine watches and jewelry sales, surpassing pre-pandemic levels. British jewelry designers also experienced an uptick in US sales on their websites, with several brands noticing a surge in orders. The strong US dollar made fine jewelry more affordable for American customers and encouraged UK-based jewelry designers to expand their presence in the US market. The strength of the US economy relative to other regions and the competitive pricing of sterling-priced products also contributed to this trend.

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