That sent other currencies, particularly the Australian dollar, soaring against the US.
For those looking to invest in US property it provides perhaps another window to convert some money to US dollars in anticipation of making a purchase.
Make no mistake, the fed will begin to wind back its quantitative easing program (QE3), it's just a matter of when. Currency markets will soon absorb this fundamental truth and the US dollar will begin a slow march towards a more normal value against a range of other currencies.
For foreign investors in US property, this is a great chance to sell your local currency and get a bankroll established in US dollars.