Compare the USD with other countries/currencies though. Besides the franc, most of the beatings of USD vs. XXX has already occured. Not that it can't go down further because I do not know, but the dollar has principally already gone down because of expectations in a weaker economy and the dropping of the interest rates. The EU was doing well economically, and then just recently (last 3-4 months) it seems that they will need to lower their rates and go into a slowdown. This, I believe, is one of the major reasons of the sinking oil... it helps the dollar and weakens demand. This being said, I feel the dollar does have some more upside left to tackle.