The dollar is falling due to weaker US inflation, benefiting risk assets worldwide.

It is down 13% versus a basket of currencies and at its lowest level in 15 months.

A weaker dollar makes US goods more competitive internationally and makes it cheaper for corporations to transfer foreign profits into dollars.

Russell 1000 technology businesses produce just over 50% of their revenues overseas.

When the dollar falls, raw resources cost less to international customers, and dollar-denominated debt becomes simpler to service for emerging markets.

The dollar-funded carry trade, which sells dollars to acquire a higher-yielding currency and pockets the difference, could profit from a continuing decline.

Corpay chief market strategist Karl Schamotta believes the dollar is plunging toward levels that prevailed before the Fed started hiking, and risk-sensitive currencies are melting up on a global basis.