Technical, page-1903

Reserve currency policy has interesting historical context and significant ramifications for future of world economies large and small. Increasingly we are seeing deals which go around the USD.

"A lower dollar boosts exporters" is not a good summation, imho, and you could easily level up with a few minutes reading.

To illustrate, assume that AUD is stable with respect to all other world currencies and that the USD is strengthening on its own. In this scenario, the AUD is relatively weakened only to USD. If Lynas imports anything from USA entities, it will be more expensive as the dollar strengthens; not so good. Conversely, if Lynas exports to USA entities, they receive USD that can buy more AUD; investors like that. However, to the extent that prices of products adjust to currency moves, the impact can be lessened quickly (with contractual limitations).

When Lynas exports to Japan or other ex-USA entity, any impacts are minimized and the USD functions as a neutral exchange medium. And when they import from ex-USA countries, same.

As Lynas does very little business with US entities, I don't consider the strengthening dollar to be either an upside or downside upside risk for Lynas at this time.

The most important and direct impacts are in the USA when the USD strengthens: USA entities find imports are cheaper, yay. Unfortunately, exports are more expensive for ex-US entities buying USA products which can lead to decreased demand and USA recession. USA citizens are happy because imports are cheaper until they lose their jobs.

Outside of USA, one particular impact of a stronger dollar is often cited as troubling: Foreign entities (nations, companies) with USD-denominated debt will have to pay more in local currency to discharge that debt and that can lead to problems within their economy.