The US economy is starting to suck less compared to the rest of the world.
Well, maybe not yet. But, my guess is that it’s cyclical. The US economy was the first to weaken as the rest of the world chugged along, leaving the dollar in the dust. Now, the US is further along in its recession, just as the rest of the World realizes they are also heading into one.
ECB and UK stopped raising rates.
The cyclical pattern of business cycle-driven changes in exchange rate is superimposed on any long-term secular trends.
