Recently, the Euro behaved like an Emerging Markets currency. With that I not only mean the high inflation but also how it traded against the US Dollar and how volatile the fall was and how helpless central bankers seemed etc.
This is really surprising to me, I thought the Euro-Boomer urge to accumulate on a low-yield savings account (demand/supply) was far stronger than US Boomers due to lower financial literacy. But in retrospect the government debt of southern Europe should have been an obvious hint.

So is the Dollar next? On one hand the FED does not have to balance Italian government bond yields and Netherlands consumer outcry together since the US is only one country. On the other hand the US political leaders seem much more top-down controlling to me.