The dollar is rallying as foreigners snapped up a larger-than-expected amount of U.S. assets.

In our opinion, the market should be thankful that we avoided a possible surge in volatility which could have happened if President Bush picked a more unknown candidate.

You have jawboning from European officials and a lack of concern from U.S. officials. So the market is really confused with what it wants to do with the euro.

Euro/dollar longs and shorts are practically one-to-one right now, which indicates how indecisive the market is.

It's extremely bad and this is bearish for the U.S. dollar. This will definitely shift expectations more for a 4 percent Fed funds rate as the last hike we'll see as opposed to 4.25 percent.

You have jawboning from European officials and a lack of concern from U.S. officials. So the market is really confused with what it wants to do with the euro,