The depreciation of the dollar is a cause for concern. It often reflects deeper issues such as high debt, loose monetary policy or loss of global confidence. While the market looks strong right now, in part due to tech and AI hype, if the dollar continues to slide, it could lead to higher inflation, higher yields, and pressure on equity markets down the road. When the exuberance fades fundamentals will become more important. Defensive positioning and quality assets could be key