Does a weakening dollar matter?

The world economy suffered a dramatic economic hit due to the Covid-19 pandemic. Some countries, like the United States, have pursued expansionary monetary and fiscal policy to counter the negative effects of the crisis. These decisions have not also affected the US recovery, but also that of many emerging countries. Latin American economies, and especially those that rely on commodities exports, will have to face the consequences of a depreciating dollar. How does a weakening dollar affect Latin American markets?