While economists and market watchers can debate the economic pros and cons of a weaker dollar, its decline will whittle away at national pride, according to Vohs, making it harder for the dollar to regain its footing.
"A strong national currency is in some ways signaling the strength of the nation,'' she said. "You can see that when the home currency is weak, people just have this sense of inferiority in the world.''
Vohs cited Canadians' one-time complex about the Loonie, which remained weaker than the dollar for 31 years. Now the tables are turned: Americans are the ones getting ribbed by their northern neighbors. But not everyone agrees on whether such an atmosphere will affect the currency's direction.
"I don't know how important it is that Jay-Z is flashing euros,'' said Marc Chandler, head of currency strategy at Brown Brothers Harriman.
Americans dealt with an opposite currency issue in the 1980s, as fuel-efficient vehicles from Japan gained popularity in the states and Japanese were buying up US companies and real estate. A backlash ensued, with Americans blaming foreign interests for the loss of jobs and US politicians demanding that Japan either strengthen the yen, or face trade sanctions.
Chandler expects a less dramatic outcome, with the dollar bouncing back next year against other major currencies as other central banks lower interest rates.
For now, online chatter indicates that some fans and commentators are treating the incidents with a humorous bent, sensing that it was only a matter of time before the dollar's decline hit BET and the fashion runways.
One observer speculated that the rapper 50 Cent might soon change his handle to 34 Pence.
Others suggested that celebrities give up on currency altogether, instead favoring gold, whose value has recently surged to decades-high levels. One advised that "any real gangsta hedging against recession" should be "flashing gold chains, not dabbling in fiat currency."
But another noted altering the hook to a famous Wu-Tang Clan tune - to say "Euro, Euro bill, y'all" instead of "Dolla, dolla bill, y'all" -just wouldn't have the same ring to it.
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