The Yen was a credible currency in 1995, and it&#x27;s now in <i>much</i> worse shape (both today and its outlook). The Euro was widely expected to pose a challenge to the dollar globally, which has not happened at all.<p>The dollar is as strong as it is even with 0% interest rates. Imagine if rates were even half the levels they were 20 years ago. I&#x27;d definitely make the argument the dollar is stronger today than it has been since the late 1990s when the US economy was riding very high.<p>In the next few years, most likely the dollar will gain more strength (the US budget is currently under control, growth is ok, and the employment picture continues to strengthen spurring tax growth), the Euro will be debased with more QE in mostly futile attempts to spur Eurozone growth, and the Yen will lose a lot more value. The Yuan is also likely to face significant devaluation as China struggles to grow in real terms, but it will at least see greater global share. Things are looking great for the dollar at least for the next ten years.