From mid-2014 through 12/15, the US dollar appreciated 25%. This rise was a major reason why the Fed only raised rates once in 2015. Since the start of 2016, however, the US dollar has fallen by 4% despite central bank easing in Japan, Europe and the UK. If the dollar continues not to appreciate, it will make it easier for the Fed to raise rates when it becomes necessary.
Elliot F. Eisenberg,
Ph.D. GraphsandLaughs, LLC