tom: final thoughts with alan ruskin this morning. at job of gaining the minutia with a major picture. how data dependent is the fed right now? do they have a vision? alan: i think they have a vision of where the data will go which will lead them to the point of tightening this year. it's very data dependent. a couple of weak employment reports, that changes the picture. tom: will we stay measured 18 months from now. we remember mr. greenspan. are we going to do it again? alan: i think the new word is gradual. i think if you look at what janet yellen has said in the past -- brendan: there was a time when we thought she might do an experimental pop up and see what happened. now we're looking at a staircase? alan: i think you act. you see how the markets responding you get the feedback from the markets in terms of what bonds and equity does. as long as it doesn't tighten financial things too much, you can tighten again. brendan: should they also be pricing in some kind of collapse or downturn? alan: it would not be a central forecast. th

joining us on set to talk more about this is alan ruskin he's the global head of the strategy at deutschee euro trading lower than the dollar on this news? >> yeah it's interesting. it's about interest rate spreads again. the market says okay we're putting behind greece we're starting to look the ainterest rates, divergence against. the old theme is coming back again. that should favor the dollar longer term. >> if you look at the longer term, the euro keeping all of its players intact is why europe benefit society greatly from this over the years? >> yes, but the logic is the other way around. there are a few other things that the market is thinking about. you're thinking about using the euro as a funding project. thing thinking of this as high interest rate currency. >> you said sometimes in the market you're an ostrich. what does that mean? >> sometime you get swung around like a daisy. and sometimes, you can actually stick your head in the ground and retend that nothing is happening, you're an ostrich. you actually want to straddle between the two and be alert with the changing curren