I can go home over the summer (im at uni) and work somewhere where a 15 year old kid that does sweet FA all day and moans like an absoulte arse gets paid the same as me and doesnt work anywhere near as hard. How is that fair?
Without a minimum wage that wouldn't happen. And there would be less unemployment.
The currencies generally have gotten a little ahead of themselves in terms of purchasing power parity vs the dollar. Eventually arbitrage will even it out again but with all the former USD loving central banks unloading and diversifying (and even supermodels demanding payments in Euros) there is a lot of momentum in the dollar slide.