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1. US Dollar and Mexican Peso: Drug wars in Mexico cause US tourists to stay away from Mexico (EXAMPLE) USD $2 PESO S USD Appreciates peso Depreciates D2 D 2. US Dollar and European Euro: Incomes in the US decrease and the US falls into a recession Appreciates Depreciates Net Exports 3. US Dollar and Japanese Yen: Japanese companies produce highly popular electronics. Appreciates Depreciates Net Exports 4. US Dollar and Nigerian Naira: New oil fields are discovered in Nigeria and US oil companies are interested. Appreciates Depreciates Net Exports