How our system works, probably similar for most competitors.
We raise a PO in USD with the rate that day, our system operates 2 cents under live rate for safety, though this could be revised to 5 cents if the volatility remains.
So if we raised a PO today at $1500 for a USD item we'd lock that PO at 1.10 (live rate 1.12)
Then when the delivery lands with us, the goodsin team/system will update the USD to what it is on that day, so if the day stock lands the rate is 1.15, stock will be booked at 1.13, this is then the rate I work of when setting pricing etc on the day of stock landing.
Then we will pay for goods typically 14-60 days later depending on supplier T&C's. As such if the pound crashes, we end paying more for goods, if the pound improves we pay less. Whichever way it swings we have a pot of money called exchange rate variance, some years it makes a profit, some years it makes a loss. Then of course we may be hedging funds, or buying dollars when the FD thinks rate is strong, I am however not privy to this information.
On 3080 launch we got burnt to put it simply, as they launched we sold 1000's and by the time we manage to fulfill orders we were paying much higher pricing due to currency weakening and also because suppliers were generally charging a lot more for them as well. Sometimes you win, sometimes you lose, in the end it tends to balance out.
Hope that tries to explain things a bit. USD items are high risk especially on GPU's which typically operate on sub 10% margins, as such the margin, all of it and more so can easily be wiped out by a currency downwards trend which unfortunately GBP has pretty much done over the last ten years. 2:1 down to nearly parity.
If GPU's had better margins for resellers like 20% plus then you'd hardly ever see pricing change as when you operate on higher margins your happy for 20% to become 10% for example so can essentially soak it up.
But when your working with 10% or less and the company soaks up several percentage points up for overheads is the reasoning why pricing can be like a YO YO at times, GPU's are time consuming and create a lot of work for the company so of course we want them to make money.