Been going on for a while - http://www.ritholtz.com/blog/2011/04/dollars-biggest-decline-2001-08/ http://www.ritholtz.com/blog/2011/04/dollars-biggest-decline.

Been going on for a while - http://www.ritholtz.com/blog/2011/04/dollars-biggest-decline-2001-08/ http://www.ritholtz.com/blog/2011/04/dollars-biggest-decline... during the crisis the dollar strangely stopped declining partly due to a 'flight to quality', a lot of other countries were in even worse shape. When you need to sell a lot of debt to foreign investors, they need to think the currency is at a level where it won't decline too much in the future, and if they don't think that, the dollar goes down or interest rates go up.