Overall, 2014 was a pretty great year for the United States. The rest of the world wasn’t so lucky. Europe is still struggling with a deep recession, Japan and China have been lowering the value of their currencies to boost their economies, and Russia has been crushed by lower oil prices.
As a result, the U.S. dollar is stronger than it’s been in years. This is a good time to travel abroad because everything will be more affordable and your money will go a lot farther. It’s also a good time to buy products from other countries.
The downside of a stronger American dollar is that foreign countries will be less likely to buy American goods because they are more expensive. This could hurt American exporters. Overall though, most Americans will benefit from the increased buying power of a stronger dollar.