The dollar will trend sideways to up for several years getting back eventually to over 100 - maybe even up to 120. Fed rate cuts typically are bearish for the US dollar. Even so, the US dollar index has been extending its gains, driven by recent bullish contrarian sentiment readings and the unwinding of a crowded large speculator short position. The euro/USD, which represents nearly 60% of the Dollar index, has broken down from a short term top, positioning the index for additional upside. I wouldn't worry about the dollar and how it might impact the I fund, rather I'd be concerned about all the investors that have migrated to the internationals over the last several years - they are top heavy and the boat is starting to lean. When that herd starts to repatriate back to domestics I won't be standing in their way.