Agreed about the chart, and that it will primarily be a USD move. But US is a net importer so the balance of payments each month is against them too.
A weaker domestic currency stimulates exports and makes imports more expensive. This can suppress import demand, and can be disinflationary.
A strong domestic currency hinders exports and makes imports cheaper. This can boost import demand, can be inflationary, aggravate BoP, and deficits.