Yes - done right (and to keep things organised) this will be setup as separate Shopify stores serving the local language, currency and shipping options.
You also need a separate domain or sub-domain, see examples of both below;
yourstore.com = UK/GBP
eu.yourstore.com = EU/EUR
us.yourstore.com = US/USD
se.yourstore.com = SE/SEK
yourstore.co.uk = UK/GBP
yourstore.se = SE/SEK
yourstore.fr = FR/EUR
yourstore.com = US/USD
When you have a multinational store, we use IP redirect to automatically detect your visitors location and point them to the right store for them.
If they can't be detected and redirected to any of you local stores, the visitor will be sent to the store marked as 'main' that acts as your global site.
We at 4PE can help you register and set up separate domains or subdomains if needed.
As a Shopify Partner we can also help you with copywriting or translation services as well.