European ETF tied to the strength of the dollar?

[mtgordon]

I own the ETF VGK which is basically the European Index Fund. How is this tied to the American Dollar? For instance, let's say that the value of the dollar drops 50% overnight and everything else stays the same, does the value of the stock (in American dollars) go up 100% or stay stable?

Feel free to laugh at me as this is something that I should probably already know but I don't.