This Wharton prof should explain why the Japanese yen is still weak and not strong against $? There is inflation in Europe, which is why interest rates in UK and rest of Europe are high. So their currency has appreciated as it invites investors.
US is keeping interest rates low, because of low inflation. Absence of easy credit to american businesses due to weaker dollar is also forcing them to make discount loans to big banks. All this is helping the US economy which was struggling just a few years ago.
Guys in India think the US economists are dunce and the best brains are with desies only. Well, US has some of the best economists and they have economic policies to foresee and come out of every recession.
