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In fact, confounding most currency experts, the dollar has rallied.
Currency experts said that within six months, the euro could trade at $1.60.
Currency experts said London mayor Boris Johnson coming out for the leave campaign intensified pressure on sterling.
Opposition to faster yuan appreciation has come from three directions in China, according to Chinese political and currency experts.
Currency experts expect the pound to remain under pressure against the dollar on continued fears about the UK economic outlook.
Some currency experts believe that the dollar will now fall sharply against both the euro and the Japanese yen.Are they right?
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However, that oil has yet to be pumped, says Jose Antonio Gil, a digital currency expert in Caracas.
Jane Foley, currency expert at Rabobank, says: The Fed's action will undoubtedly re-awaken the theme of 'Currency Wars'..
And here's some early reaction of Twitter, from the BBC's Gavin Hewitt and Societe Generale's currency expert, Kit Juckes.
Currency expert Kathleen Brooks, of FOREX.com and City Index, pinned the blame on events at the Conservative party conference in Birmingham.
"Without reliable official information, any change in Tehran's political winds spooks the public, and they sell rials," said Steve H. Hanke, an economics professor and currency expert at Johns Hopkins University.
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