The world is true changes and so is the world fx.
There was a time when you had a drop 1.4% in your S & P 500, US Dollar would be much higher against everything but the temptation of Yen and Swiss Frank. That's not true today as lower against the Euro / pound and just taller out of materials.
What has changed?
Clyde Tariff in the Trumps of the first term and earlier this year built the dollar but now they are not. I believe this is mainly about a sign. In the past, the market was confident that Trump's main priorities encouraged the trunk and gdp market market. That religion is broken.
Instead, the white house is gaining change that he is willing to take or take short pain to reinforce long-term goals. The market does not like it and see the ownership of the US economy that depends on the world.
This is not particularly unique. The US dollars suffered in the housing / financial crisis after the 9/11 and body dut a melt.