I mentioned this yesterday in the Monday Dividend Cafe:

“The weakening U.S. dollar is likely to warrant further analysis soon of what it means for U.S. stocks and bonds. The commodity rally is clear enough, as is the benefit to U.S. multi-national companies with a large export business. But what it means for foreign appetite for U.S. stocks and bonds is the bigger issue, and I think it is too early to intelligently comment on that.”

Bottom line for shorter-term market ramifications:
SHOULD help commodities, emerging markets, and U.S. multi-nationals with high exports

Bottom line, longer term:
Depends if it continues to a point that puts downward pressure on foreign appetite for U.S. stocks and bonds, which has not come close to happening yet