Earlier this week, Wall Street fiddled while the city was burning. Well, not so much the city as the specie that makes it possible -- the almighty buck. After this week's 0.5% rate cut by the Federal Reserve, stocks shot up across the board. Politicians like Ben Bernanke and George Bush have been jawboning the housing market issues, but it took a couple of days for the fallout to begin landing and lighting up the landscape.

We're seeing the results now. The dollar hit an all-time low of $1.40 per euro today, and for the first time in about a billion years, it's at parity with the Canadian Loonie. This is, of course, a direct result of the Fed's recent return to a loose money policy, as well as years of fiscal profligacy by our free-spending Congress and president.

I think it could be a long while before the buck stops sliding or stages a recovery. The Street needs its Fed fix, and with election season upon us, the politicians are going to keep on doling out that greenback-sweetened vote sauce.

My advice? Move more money into companies that do their business overseas and do that business in foreign currencies -- euro, yen, pesos, rupis, magic beans -- so long as that company doesn't depend entirely on exports to the U.S.

For my part, that means buys of Gigamedia (NYSE:GIGM), south-of-the-border beverage companies such as Coca-Cola Andina (NYSE:AKO-A), strong Asian industrials like Tata Motors (NYSE:TTM), or staple commodity sellers like PetroChina (NYSE:PTR). U.S. companies that are growing overseas revenues at a good clip, such as Guess? (NYSE:GES) and Fossil (NYSE:FOSL), are also good ideas.

Gigamedia and Coca-Cola Andina are recommendations of Motley Fool Global Gains. For more investment ideas that won't fizzle on account of weakening U.S. currency, a free trial is available.

At the time of publication, Seth Jayson, a top-10 CAPS player, had shares of Gigamedia, Guess?, and PetroChina, but no positions in any other company mentioned here. See his latest CAPS blog commentary here. View his stock holdings and Fool profile here. Fool rules are here.