By definition of economics, “a recession is marked by 2 or more consecutive quarters of low GDP (Gross Domestic Products, a nation’s spending report).” Each year has 4 quarters, 3 months for each quarter.
By this definition, the recession has already started, because the GDP index has been down for well over 6 months, since last summer’s reports. Those well-paid “spokesmen,” namely Ben Bernanke, the Fed Reserve, public “economic experts” (the ones that show up on TV), Condoleeza, Pres. Bush, and other heavily-invested financial “experts” (who, of course, would root for their own portfolio investments in order to get more people to buy the same shares) STILL refuse to use the R-word because they don’t want the public to know how bad the numbers actually are:
As of this Thursday morning, the unemployment numbers are already in…..407,000 total unemployment claims for the week ended March 29. This number will increase in upcoming months because there are reports of more businesses closing (mostly banks and retail sectors) and laying off even more people as of this week.
The U.S. Dollar has already been declining in value against other nations in the Foreign Exchange (Forex). Ben Bernanke has already slashed interest rates 6 times in the last 6 months. Every time the Fed Reserve cuts rates, it weakens the dollar because the way Forex works is based on a nation’s economic conditions. Announcements of rate cuts signals to foreign countries that we are doing so poorly that the government has to take such drastic measures in attempt to get the cash flowing in the economy again. It makes foreigners wonder, “Why don’t they have enough money in circulation? Why doesn’t the government have enough money to help out? Aren’t the citizens employed? Why aren’t they employed? Why are there so many layoffs? Hmm….nah, we’d better not invest in the USD, pull our money out and buy Euro or other currencies instead.”
Therefore, I would definitely recommend postponing your travel plans, at least until late June or July, when the total bad numbers are expecting to hit rock bottom. Until it bottoms out, they can’t even begin to clean up and rebound from this mess.

It is the other way around. Dollar inflation causes recession.

It has already gone down. Even the Canadian dollar is worth more than the US dollar now.

I’d guess at least one aspect of it would be this: If the US economy goes into recession, the Fed will probably cut interest rates in order to stimulate the economy (making borrowing cheaper). The side-effect of this would be to make saving in the US less rewarding, which would reduce the demand for US Dollar currency in the currency market (foreigners don’t want to posess dollars as much, as they don’t want to save in the US as much). The result would be the US dollar becoming weaker.

Efforts to stimulate the economy to avoid recession are already contributing to inflation. An actual recession would result in even more efforts which will produce significant inflation. It would be difficult to fight inflation in the midst of a severe recession. For example, raising interest rates, which theoretically reduces demand, won’t work when the problem is lack of demand.
Maybe we just can’t afford to import and use oil and other natural resources at the current rate. Maybe the global economy can’t continue to function in its current overheated state. If it can’t, efforts at stimulation will result in inflation rather than growth.
To answer your specific question, take your trip, the situation will only get worse in the foreseeable future.

murphy law.