Weakening of USD would be hugely welcome relief for most markets that have been in turmoil since the start of 2016.
Please note this is monthly chart so the follow through will happen over a few months i.e. over 2016 if it happens at all.
For this to happen the Fed will probably need to revisit the stated goal of 4 hikes this year. As it is, it looks highly unlikely that they will proceed with it anyway.A weakened Dollar should prop up and provide much needed to developed world and relief for exporters.
Given the current levels of most equity markets, I think this would be a good time to get in early with a little bit of risk money and build it if there is a follow through.