USD is probably the most popular currency and trades are made based on USD.

At the rate of it falling... wouldn't economy be turned up side down very soon? (if it hadn't already) 

Well it's sure having an effect up here!

When it finally hits where it should be its been propped up for along time on spec, however it should bounce back, because speculation will make it atractive again, drive it up. right now the fall of the dollar is sticking it to asian markets... sony and NIN are both hurt far more by this then MS, MS suppliers are hurt

I'm loving it, importing games from America has never been so cheap (and for small import business profitable)

If they cut the interest rate again the US will fall even further and it looks like the country is heading into recession.

Stupid region lock on the Wii is killing us, our dollar is at a 23 year high on the US dollar. $1 AU = 92.45 US cents

I think it will stop falling when the U.S. gets a new president. Bush is the reason the dollar is falling. He thinks it will help American exports

That's a tricky one... Since the chinese currency is bind to USD, china is keeping USD so "high" at the moment and USD keeps the chinese down. That fits for china. Basically high oil price (they trade it in USD) is pushing USD down. Theoretically, if OPEC would start to trade oil in Euros (as Iran have suggested), could up the USD value, but in the other hand, decreased trade would have negative effect.
I don't see significant raise in USD value in the near future, at least not before US takes its troops back from middle-east.

Nothing to do with the war, it is that Bush has failed to fix problems within the US and the economy is in a mess.

I wouldn't say that it's nothing to do with the war. The fact is that there are a lot of volatile elements in the foundations of the US economy. The Iraq war and the spending it requires is just one of many such sources of instability. Other factors include a huge trade deficit, the sub-prime mortgage fiasco, and a dependance on China to finance American debt.

If there were only a couple problems, the value of the USD would probably remain relatively stable. There are just too many issues undermining faith in the greenback and the economy it drives. Don't expect it to rally until at least a few of these issues are addressed.

Well the USA doesn't have much to say right now. The country is regularly hit by some natural catastophes, rising oil costs, understimated investemant risks etc, etc. Moreover, while the US economy is staggering the whole of EU with India and China are leaping in terms of economical growth. It's not just that the dollar is weakening, the others are gaining ground at the same time.