Global flight to safety and carry trades drive surprising US dollar appreciation.
The US dollar got stronger in 2008 because people around the world wanted to keep their money safe during the financial crisis. Also, some investors changed their strategies, which helped the dollar. Companies found it expensive to borrow dollars, so they paid off their debts with other currencies. European banks and investors had too much protection against the dollar going down, so they had to buy more dollars. All these things together made the US dollar go up in value.