1.   A falling dollar means less francs when the company converts its foreign sales into its home currency.

2.   A lower dollar makes European goods more expensive abroad and means companies receive fewer francs or marks when they convert their dollar sales.

3.   A higher dollar means exporters get more francs when they convert their dollar sales into the French currency.

4.   A rising dollar brings more francs for French companies converting dollar sales.

5.   A higher dollar means more income for exporters when dollar sales are converted to francs.

6.   A large Swedish current account surplus generates demand for kronor as export-oriented Swedish companies convert overseas sales into krone.

7.   A rising mark means German companies make less profit when dollar sales are converted to marks and that their products are less competitive abroad.

8.   A rising U.S. currency boosts earnings of French companies when they convert dollar sales into their home currency.

9.   A stronger pound tends to hurt shares by making exports more expensive abroad and means companies get fewer pounds when they convert their dollar sales into sterling.

10.   A weaker dollar means lower profits for exporters, particularly electronics makers, when they convert their dollar-denominated sales back into yen.