joining us now is jack caffrey.upposed we dodged the top market mover by showing the futures board, the big mover today is the dollar. quite markedly higher. what is driving that, political fears or fed rate hike fears? >> certainly some political issues that always manage to creep on to the front pages. the fact you have the philly fed head yesterday talking about the prospect of a live meeting within march, and the economic data has been very good in the united states. in terms of relative to expectations and i think points to the fact that there might be some firlness in terms of the possibility of rates rising at some point. >> how much has been baked into the stock market in terms of better economic growth, higher interest rates and potential policy moves like corporate tax reform? >> i think valuations are in that tug of war. better economic growth feeds earnings, a bit more confidence in the u.s. central bank, tax reform is a nice thing, but i'm not sure how much necessarily you want to put a multiple on that