Some say it's epochal, others merely cyclical. But part of it boils down to supply and demand: The world is awash in dollars these days.
The dollar has lost a big chunk of its global purchasing power since the end of 2001 -- an average of 37%, as measured by one index that tracks the greenback against other major currencies.
Gauging the decline is easy; explaining why the buck has slumped is much more complicated.
Some theories about the dollar's fall are grand in scale: for example, the concept that the buck's fate is a symptom of a fading U.S. empire.
Other explanations are largely technical, including the idea that currency values are cyclical, and that the dollar's downswing inevitably will give way to an upswing.
On some level, the dollar's shift has to be about basic supply and demand. The price of anything usually will decline if there is an excess of it in the marketplace.
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