Since then, the Federal Reserve has entirely ceased with its asset purchases by slowly reducing its monthly purchases to zero from December 2013 to October 2014. Subsequently, the debate shifted to the timing of the rate hiking cycle.
Between September 2, 2008 and January 12, 2009, the US dollar has appreciated by 7.7 percent and 16.5 percent against the Euro and Pound respectively. There were also “flight-to-safety” concerns in the wake of the global financial crisis as banks dumped asset backed securities and preferred US Bills and Bonds.