socgen at one end and bank of america at the on the other hand. oil around the $69 level. those are the commodities spectrums. rio tinto seeing -- there are reports there will be job cuts. nova trading up. their insulin drug it looks as if that is a step closer to regulation approval. up 12.84%. the irish are defying me. we have the full year report and we're seeing statements there quite warm towards the i.a.g. that is state of play. japan's inflation was in your top news. there you go. the best performing currency in 2015. it is taking a little bit of reprieve this morning. that is the best performing currency of 2015. the yen, what happened? inflation, will it get to 2%? stims are it only hit 1% by this time of year. they have to continue to do -- 120 is almost mission impossible at the moment to get through. pair ba up around 140 in the near term. back to you. jonathan: thank you very much. data out of japan this morning on the surface inflation data doesn't look so bad. consumer prices rose a solid 2% from the month of february. it is only when you -- last year's sale

kit juckes' note this morning from socgen. this is what the professionals look at. zero-yen. -- euro-yen. i rarely show the more conventional technical stuff. we balance off the moving averages, down we go. this is the euro reversal of the last 5, 6 or seven days. brendan: air not getting any help from the yen. the inflation japan is h oping for is not happening. in december, kuroda said let's all adjust together. japanese corporations did not give wages. brendan: the backstory overnight japan in search of inflation. kit juckes is saying this trend may continue, strong yen and weaker euro. i rarely use the word subtle when looking at equities, bonds currencies and commodities. we need to speak about the tragedy and france. he headline came across the bloomberg terminal at 7:52. the mystery of germanwings 9525. french authorities said it appears the airplane was forced into a crash by a pilot. we will all adjust european airlines they will change policy. caroline hyde lives out of heathrow. what is changing at heathrow this morning? caroline: a plethora of airlines t

said let's bring in our very own steve liesman to respond, our rick santelli and larry mcdonald from socgenre between her q&a and the remarks already delivered? >> well if you remember the fed statement -- the recent fed statement there were two mentions of the dollar in the press conversation and we've had two or three different fed governors mention the dollar now she mentions it again. the dollar is down 3% from the highs. i think clearly behind the scenes they're very concerned about the dollar a major investment firm lowered their gdp forecast today down to 1.5% citing the dollar. so i think the dollar comments are the headline. >> what about you, steve? what jumps out? >> so i thought in the major speech the issue was she's trying to tweak a little bit the shape of the fed funds curve. i think she wants the market to be a little more hawkish about when the first rate hike could come. i think her comment that the fed could act even though the core rate isn't rising is pretty new and interesting and it suggests that maybe the fed may be a little bit more hawkish when it comes to that fi