The market feels if one is in trouble, there could be more we don't know about.

It's a lose-lose situation for the yen. Traders feel they shouldn't raise rates because the economy is still too weak at this point.

If the yen continues to strengthen, then it's not a good thing for the Japanese because their exports aren't going to be competitive into the U.S.. I think as you get to 105 and pull below, it's going to hurt the Japanese stock market. So, too strong of a yen is not good.

I think that these countries do not want to miss out on the export opportunities in the United States and that's one of the primary reasons behind this.

People are getting ready for the end of the tightening cycle and they are beginning to feel like the dollar?s rally is nearly over.

The core number (which excludes the volatile food and energy sectors) is expected to (gain) 0.2 percent, which would be good and I think that would give the market a further sign of relief and could give the bond market a boost.

The dollar was reluctant to follow movements in the equity market, but when the selling became fierce, it started to respond.

Normally that would strengthen the euro.

Once again, it shows a lack of follow through after thoughts of intervention.