Here, he's reacting to the possibility of further quantitative easing in the US, which is expected to come in next month. Taylors one of many who believe that, despite its public support for a strong dollar, the US government would actually prefer a weaker currency as a way of securing its share of recovery once things pick up.
The international community hasn't taken too kindly to that approach: Japan, Israel and South Korea have all leapt to try to prop up the dollar recently, clearly fearing the fragility of their windows once those rocks really start flying.
Over here, the Government is up to similar tricks, publicly welcoming the declining value of the pound. Taylor is of the opinion that the governments' £81bn cuts plan is absolutely insane, and may precipitate a tumbling value in the pound against the dollar.
Of course, plenty of others (including the IMF) have given the cuts their approval. Either way, it looks like we'll just have to wait and see whether those rocks go crashing through the glass or simply bounce back to thunk our government on the head.