The usual theory is that the US is not alone in experiencing inflation (or having printed huge amounts of money), but as it still is considered a reserve curren

The usual theory is that the US is not alone in experiencing inflation (or having printed huge amounts of money), but as it still is considered a reserve currency and seems to care quite a bit about getting inflation under control (in addition to having a track record of having done so), investors often assume it will recover more quickly than other currencies, causing them to dump their local currencies to put their wealth in the dollar until the economic storm has stabilized some.