[bigbadfeline]

> raising the peso/dollar cross is effectively strengthening the currency against all other currencies.

If the peso rises against all other currencies, the dollar paying for it must fall against them, not as much but the dollar falls - at least relative to the movement it would experience without the purchase of pesos.

> Since the USD is one of the core currency crosses and is at the base layer of the financial system,

Abracadabra isn't an argument.

[sdwr]

Right, and the US (presumably) has the mass and stability to weather that impact much better than Argentina does.