It's relevant in my case, as a european trading bitcoin in USD, i'm interested in the exchange rate usd/euro. So i wouldn't like it if the USD takes a tumble.
So, fed tapers: dollar rises, fed doesn't taper: dollar goes down, down, down.
To use a baseball analogy.
Monetary policy (Fed action) is the backstop. Fiscal policy (congressional+administrative spending control) is at bat.
When Fiscal policy strikes out, the dollar goes down down down. All monetary policy can do is keep some of the balls that our batters can't hit from sliding into the gutter, rolling into the sewer and out to sea.
Too much credence is given to the Federal Reserve wrt dollar valuation, but its not their game to lose, it is the absence of governance on government.
