Large swings in currency external values are by no means a new phenomenon in the world order. In the  1  BIS Review 61/2000  mid-1980s the Deutsche mark was considerably weaker against the dollar than the euro is today. Within two years, this position was reversed.
1  The broader measure of labor underutilization referenced here is the U-5 measure of unemployment, constructed by the Bureau of Labor Statistics. BIS central bankers’ speeches  3  Yet another interpretation of the recent improvement is that it represents a catch-up from outsized job losses during and just after the recession.