To some extent, a rising dollar reflects rising confidence in the US relative to other countries, whereas a falling dollar reflects shrinking confidence in the US relative to other countries.
The table below shows the geometric mean of the yearly percentage growth rates in the price adjusted broad dollar index compiled by the Federal Reserve.
(Yearly changes are for February to February, as the President’s inauguration takes place toward the end of January.)
Note… data only goes back to 1973 since before that the Bretton Woods system was in effect.
Not surprisingly, the only two presidents since 1973 that still seem to be popular were also the only two under whom the dollar’s value actually rose.