5566

Ok when the Fed lowers the interest rate, it expands the money supply which leads to currency depreciation. There are two ways I remember this:
1) Expansion of money supply leads to inflation which depreciates a currency
2) If you picture a Supply/Demand graph, if supply shifts right and demand remains constant, price will decrease.

Then I remember that expansionary fiscal policy has the opposite end effect on currency (but not necessarily opposite effects on interest rates, NX, etc)