The U.S. economy is still in extremely good shape. They'll probably keep hiking rates, and that's going to support the dollar.

All the market is doing at the moment is trying to work out when the Fed is going to finish on rates.

Fundamentally the kiwi dollar is in a lot of trouble and when you get comments like that, it just sparks people's interest again.

The risks are now skewed to the upside (on U.S. interest rates). 4.75 may be a done deal (in March) and depending on how the data goes, 5 percent may become a done deal as well.

The bigger theme for the next couple days is going to be what's happened in Iran. The market's going to view that as negative for the dollar.