I’ve been in London this Thanksgiving break, and the media here is blanketing coverage of the dollar’s plummet. Europeans hate it. It drives up the cost of their exports to the U.S. I’ll decline comment on U.S. fiscal policy for now, but there’s one important message here for Silicon Valley technology companies: If ever there’s been a time to sell into foreign countries, especially Europe and Japan, it’s now. Within three years, the euro has rocketed from 85 cents to $1.33 — making this a great time to grab market share.

From yesterday’s IHT: LONDON, Nov. 26 – The falling dollar reached new depths against the euro today, after a weeklong erosion of value prompted by concern that the dollar’s status as the premier international reserve currency is growing more precarious. The central bank of Russia said today that it would stop trying to peg the ruble solely against the dollar, shifting instead to a target based on a basket of global currencies. That could result in a decline in dollar purchases by the Russian central bank, whose currency reserves are dominated by dollar assets.

The biggest questions hang over Asian central banks, which have bought hundreds of billions of dollars’ worth of United States Treasury securities and other dollar-denominated assets in recent years to slow the decline of the dollar, in order to safeguard their countries’ exports to the United States. Comments by a Chinese central bank official, suggesting that the bank might slow its dollar purchases, briefly sent the American currency into a volatile spin before they were retracted.