Currency Wars is a theory I came up with (as did others) around 2009 or a bit earlier. I was buying Gold as early as 2006 when the housing boom must made me research and become convinced of the reckless house of cards the Powers that Be were placing all their bets on. War theory-- Everyone fights to devalue their currency so their "exports" will be strong.....and so the drunken sailor bloated Governments can continue to spend to prevent civil unrest.
Currency wars are definitely in play.
http://oahutrading.blogspot.com/2010/10/cable-may-be-ready-for-run-down.html
Here is an Update on the Four major currency pairs, as you can see....lots of printing all around, but no effective change in the relations of the major currencies.
1) Euro
2) Japan
3) Britian
4) Canada
Of other important currencies, AUD and NZD, these are not part of the US Index.
Only NZD not shown here had any appreciable strength against USD, but NZD is chump change in the overall scheme of things.
And just for you, I made this pie chart that shows the relatives weightings of the currency pairs that make up the USD futures index.
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Insightful and Useful Comment!