dollar strength..

the dollar has risen but not parabolicly. when the unwinding takes place all the QE's will have proven to be a curse.

 

Maybe I'm exaggerating.... But it might not feel that way in hindsight.... The rise in equities is similar in slope to past bubbles

 

a lot of U.S. exporters are waiting patiently for the unwinding, they need a lower dollar to survive

 

If the world sees interest rates rise in dollar denominated assets which is what they are anticipating they will buy lower risk higher yeilding US assets
... This is basically what is happening now I believe.... Once the commodity currency nations feel sustained pressure from lower commodity prices something else might happen

 

if all they are doing is waiting instead of trying to become more efficient they will be unpleasantly surprised when a weaker dollar will not help them much if at all.