Shoppers who buy a mid-length Kensington trench from Burberry in the UK will pay 1,790 GBP or $2,052. The same coat in the US, however, is selling for $2,490. And in China, getting that signature gabardine look will cost you 20,500 yuan or $2,827—around 32% more than buying it where the luxury label was founded. While currencies are always fluctuating, the dollar’s steep rise is distorting retailer prices dramatically. Investors have been buying up greenbacks as reserves during volatile times, and the US Federal Reserve has kept raising interest rates to slow inflation, which is also keeping the dollar high....