"The dollar is not like any other tender. As the de facto reserve currency of the world, it benefits from global upheaval, even those that originate in the US. 'It's ironic, given that we just messed up big time, the response of foreigners is to pour more money into us,' said Kenneth S. Rogoff, an economics professor at Harvard. 'They're not sure where else to go.' Indeed, the appeal of the US reflects a lack of better options. Currency traders are betting that because the US was the first to falter, it will be the first to recover."
In a Weak Climate, the Dollar Has Surprising Muscle
by Mark Landler
http://www.nytimes.com/2008/10/06/business/06dollar.html?ref=business
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