Headline inflation is moving up. A rate hike is likely in the fourth quarter.

There's a chance the euro has seen its high for the cycle and Asian currencies have further to adjust.

The yen is the currency we really like right now.

The intervention addresses the issue of a lack of global leadership. It shows that somebody is in charge.

Interest rate expectations are driving the dollar.

The markets were hoping for more clear-cut evidence of what is happening with the economy. They will have to wait, because the Fed wants more data.