Photo: U.S. $100 banknotes. Photographer: Paul Yeung/Bloomberg

The supercharged dollar is almost everyone's problem—but it's the one challenge that the masters of the global economy can't directly address.

The U.S. currency has soared almost 15 percent this year, on course for the biggest gain since the early 1980s. Nations across Asia and Latin America have been tapping their foreign reserves in an effort to shore up their currencies, prompting a caution from the International Monetary Fund (IMF) about the need to be prudent and preserve resources for potentially worse turmoil to come.

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