But, according to this view, as the dollar’s value declines, US exports will become more attractive to foreigners and American employment will rise, with labor re-allocated to the newly-vibrant export sector. It will be like what happened in Britain after it abandoned its exchange-rate peg and allowed the pound to depreciate relative to the Deutschmark , or what happened in the US in the late 1980’s, when the dollar depreciated against the pound, the Deutschmark , and – most importantly – the Japanese yen.