The FED hurts the dollar.

The current financial crisis started in the USA, and what seemed to be an ironical evolution has now reversed. Initially the dollar, who was losing value against the euro since 2002, rose from its fall due to the crisis. But even that positive evolution won’t survive the crisis. One day after de Federal Reserve lowered the interests to near zero, the dollar lost 4 cents to the euro, which is the largest single-day jump since the euro’s birth in 1999. This collapse of the dollar was much bigger than expected.

Loïc Steelandt

source: http://www.nytimes.com/2008/12/18/business/worldbusiness/18euro.html?scp=1&sq=dollar%20euro&st=cse