i think we've had a good move on rates therefore i think the dollar has room to run for all the centralank differentials we know about. >> okay, so dollar room to run. that means oil remains weak? yeah or no? >> yes. but, again, oil has digested a strong dollar a couple times and we've reached our pain threshold. if we're talking about oil, i think brent holds 60 bucks. >> to me, oil looks like it does hold period because today looked like a risk on trade for a lot of funds. you saw people get in there because opec has been an overhang for the market for a while now and people saw this as somewhat of a clarity to the situation. not complete but it seemed like people were just getting back into oil because they felt like that opec cloud lifted? >> so the dollar continues stronger. i know you didn't say the dollar, but if the dollar continues stronger to the end of the year does that provide an additional head wind to multinational companies at this point? >> it's a function of how much of the kitchen sink they've thrown in in talking about the dollar. and if you noticed, when they talked

the internal discussions were about the u.s. dollar and the euro.here's a report from a french official saying that president obama said the demand or strength of the dollar was "a problem." the white house denied that report but within the last 20 minutes we had the prime minister of italy talking about how currency was very much a part of the conversation. listen very carefully to what president obama says about currency. as we all know from previous encounters with the president, he can move the dollar in a heartbeat and i'm excited to see if he takes the bait. erik: doesn't he know better than to cave in under questions from ernest reporters like aurself on the currency at venue such as the g-7? eric, you missed a great opportunity for a insult. here is what president obama may want to do and why he may talk about the dollar, because there is confusion in the market. we have the white house denying the statement and we have matteo renzi talking about it. in some ways, president obama will have to talk about global growth, what the weakening euro

page 9, line 6, after the dollar amount insert the following, reduce by $1 million. page 36, line 1, after the dollar amount insert the following increase by $1 million. page 36, line 9, after the dollar amount insert the following increase by $1 million. page 36, line 20, after the dollar amount insert the following, increase by $1 million. the chair: for what purpose does the gentleman from new jersey seek recognition? mr. frelinghuysen: to make a -- reserve a point of order. the chair: a point of order is reserved. mr. frelinghuysen: we'd like to see a copy of the amendment if that is possible. that's the reason -- the chair: the clerk will distribute copies of the amendment. pursuant to house resolution 303, the gentleman from massachusetts and a member opposed each will control five minutes. the chair recognizes the gentleman from massachusetts. mr. keating: thank you, mr. chairman. i rise today to offer an amendment to add an additional $1 million for research and development for duchesne

if you look at the aussie dollar compared to the kiwi dollar, that is where you are feeling the surge. currently, it is gaining 2.6%. i will not get into the korean won because we did not see much reaction despite the be ok cutting -- the bank of korea cutting rates. let's see how the major markets have wrapped up the day. australian stocks ending in positive territory up 1.4%. we saw this rebound in min ers. new zealand up by 1%. the cost be ending the session up. the nikkei ended the day higher by 1.7%. asian stocks have been rising for a second consecutive day, but stocks in china have been lacking clear direction on morning. the shanghai composite, losses and gains all morning. we have positive data today showing the economy could be stabilizing. industrial output rising 6.1% last month, beating estimates. we are seeing concerns we could see a flood of ipos next week. funds from existing equities, that puts downward pressure on the shanghai composite. the hang seng rising because chinese stocks trading in hong kong are rising from that two-month low we saw earlier. there are disco

and later, did obama stop the dollar in its tracks? reports on the president's comments at g-7 spurring a sharp sell-off. the commodities king dennis garman will tell us if it's just the start of a bigger move lower or maybe a buying opportunity. back after this. you have to wear this thing? ♪ can it tell the flight attendant to please not wake me this time? ♪ the answer is yes, it can. so, the question your customers are really asking is, can your business deliver? ♪ ♪ at chase, we celebrate small businesses every day through programs like mission main street grants. last years' grant recipients are achieving amazing things. carving a name for myself and creating local jobs. creating more programs for these little bookworms. bringing a taste of louisiana to the world. at chase, we're proud to support our grant recipients, and small businesses like yours. so you can take the next big step. i'm a senior field technician for pg&e here in san jose. pg&e is using new technology to improve our system, replacing pipelines throughout the city

you believe the dollar has peaked. just like chipotle you should do some homework and seriously consider buying monster beverage or do my strategy buy coca-cola. that's the cheap way to get green mountain and monster without the beating. take a gander at one my charitable trust said good-bye to but we're looking to get back into it. lululemon. the stock has now broken down from an extremely bearish double top formation which suggests shares can go lower given that they have fallen below the floor of support at about 60. this stock was down padly and managed to rally at the close. didn't change things but i point that out. lulu is also supporting a negative divergence. look at that. unlike chipotle and monster i wouldn't be look at an entry point but we have a quarter coming up. you have to be prepared for the strongest leaders to lose their mojo. lately they have all gotten slammed after flying too close to the sun and the charts as interpreted suggest that there could be even more pain ahead i would tell you these are

we obviously have no target for the dollar. n the dollarnts and its economic impact is one of many factors affecting the outlook, and in spite of the appreciation of the dollar, the committee obviously thinks of the economy is likely to do well enough to call, likely call for some tightening later on this year. hi, john hillman with american banker. i would like to ask a regulatory question if i could. last month, senator elizabeth warren and congressman elijah cummings ascend a letter asking about an inquiry into the fed and other regulators implementation of the investment act. cr concern being that the as it isa and limited now is not giving communities, like in baltimore, other places, enough access to basic banking services. do you think the fed is doing everything it can in its cra implementation to give access of these communities to these kinds of services? do you think it can be doing more? chair yellen: we take cra very seriously and evaluate for those banks that we supervise. we have a set of guidelines and are very c

the euro dollar going past 114 earlier in trade. back at 1138 but a descent move late in trade yesterday and that's pushed sterling up past briefly 159 but we're in 1589 at the moment. >> as you were saying the fed has expected keeping rates unchanged but the central bank believed the improving u.s. economy was likely to warrant one or two rate hikes during the year. the fed chair says that the economy has escaped the soft watch of the first quarter. more progress is needed before the fed would be ready to pull the trigger on a rate hike. >> it will be appropriate when it's seen further improvement in the labor market and is reasonably confident that inflation will move back to the 2% objective over the meeting term. in our meeting that ended today the committee concluded that these conditions have not yet been achieved. 7 members only expect one hike in 2015. the fed cut it's growth outlook for the year now expecting gdp of 1.8 to 2%. let's get out to john sylvia who is chief economist at wells fargo fargo securities. you expected

give us the history of how this strong dollar policy, at least the rhetoric, began. ll-known was talking about it and then a very explicatedecision to a strong dollar is in the u.s. interest. the treasury secretary getting that message. certainly, it made life easier for treasury secretaries. you ask any treasury secretary this question, and they know they have to repeat the exact answer may have reviewed 100, 1000 times before. the belief in the strong dollar. in the best difference of the u.s. economy and the global economy. that is the message they have delivered. it is easier not to strengthen the message but it also back to bob rubin. scarlet: there is rhetoric and there is reality. even though we talk a strong dollar, the reality is we need a week dollar, and we use it to our benefit. seems like some sort of national pride thing. we are american. it does not seem to make any economic sense. it is also true the treasury does not have much control over it, so it is also weird to me that this is a question that the treasury secretary is often asked. in other countr

page 9, line 6, after the dollar insert reduced by $10 million. page 10, insert the following, increase by $10 million. page 36, line 9, after the dollar amount insert increase by $10 million. the chair: pursuant to house resolution 303 the gentleman from florida and a member opposed each will control five minutes. mr. grayson: thank you, mr. chairman. my amendment would increase funding for prostate cancer research under the health program by $10 million. prostate cancer is the second most commonly diagnosed cancer in men and the second most common cause of men's deaths. in 2015, approximately 220,800 men in the united states will be diagnosed with prostate cancer and an estimated 27,540 will die from it. the prostate cancer research program is a unique research program in that it prioritizes research that will lead to elimination of death from prostate cancer while enhancing the well being of men experiencing the impact of that disease. today the prostate cancer research program has resulted in a total appropriation of $1.3 billion, including $80

what do you think the dollar looks like? a: it was a spike higher and the euro dollar as well. the momentum is still there behind the u.s. dollar. these retail sales at up to an upbeat meeting next week. it could strengthen the view that we could see a hike in september. it will be tenuous. it is one data point it i cannot -- i do not think we can base it all on that. anna: brenda, thank you very much. a german newspaper is reporting that germany is no longer ruling out a greek default, after talks with creditors went nowhere. let's head to berlin, hans nichols has the story. hans: this is bild that has opposed a greek rescue. they are basing this on three factors. one, the votes are getting difficult in the parliament. two, the talks. germany needs to start preparing for the exit. three, they seem unidentified sources hitting a readout of that wednesday night reading between merkel and citrus. -- merkel and tsipras. they say no ground was givien by tsipras. they take the three together. they say they do not expect -- they do

it may push the dollar above 125. for the euro it's in a tight range against the dollar. concerns over greece are fixed in the background as well as the european central bank policy meeting this week. the question is what the ecb might do. if it continues continue tative easing measures. and in china, the markets resumed their upwards trends. we'll keep track of that and related indexes and in relation to japan, one positive sign of increased appetite of japanese culture was the record number of people who went to see the opening of "stand by me," a robot cat from the future. it's one of the hugely popular manga comic series from japan and that actually broke box office receipts for the weekend previously held by "kung fu panda 2." interesting items to watch out for. >> i'm not embarrassed to admit i'm a fan of both series. ramin mellegard from the tokyo stock exchange. >>> carmakers selling vehicles in japan are trying to get to know their customers better. sales are in a slump and they're testing new marketing strategies. from remodeled showrooms to internet chat rooms,

page 60, line 16, after the dollar amount, insert increased by $500,000. the chair: pursuant to house resolution 287, the gentlelady from illinois and a member opposed each will control five minutes. the chair recognizes the gentlelady from illinois. mrs.bustos: thank you, madam chairman. i would like to thank chairman diaz-balart and the ranking member for their help on this. i hope my colleagues will join me in improving rail safety by approving money for the rail and pipeline safety commission. this organization's purpose is to protect public safety. until just a few years ago, our nation's railroads transported very little crude oil. now in due in part to the crude oil formation in north dakota and other areas, approximately 1.1 million barrels are transported by rail in the united states every single day. the pipeline and hazardous materials safety administration conducted tests on this crude and found it to have a higher degree of volatility than most other u.s. crude. last year railroads carried almost 650,000 carloads of oil, compared to only 9,500

quite the way for the dollar-yen together there. e low for the yen was 358 on january 13, 1971. the high was october 28, 2011. that is the blue circle. since then the dollar has risen and the yen has dropped by 39%. what the next for the yen? top forecasters are divided by how weak they can get. one person sees the yen tumbling this year. second in the rankings and the bank of tokyo mitsubishi which is japan's biggest lender say it was stronger -- struggle to depreciate beyond 125. the median forecast is for the dollar to stay around 125 yen after the end of 2015. jack is unchanged since february. the most bearish, the most bullish is prestige economics with 114 forecast. when will the u.s. raise interest rate and will the boj implement further monetary easing? it is worth remembering last wednesday, wrote a reiterated --kuroda reiterated he would adjust his stimulus program if needed. japanese officials have expressed concern about the pace of the yen's the while stopping short of calling for a halt. there you have it. how low can t

how much further does it have in the tank, the dollar rally? adam: for me, the official concern on the dollar is more about pace and absolute level. if we look at the main five ua should metrics for the dollar, it has risen but from deeply, deeply undervalued levels. it is still somewhat undervalued in terms of the u.s.'s competitive position with the rest of the world. i think it is not a major concern. we see more concern if the dollar is moving at a pace that is threatening stability. a steady gradual appreciation from here. i see few constraints on that. mark: that brings me to the end today with the nikkei at its highest since 1996. how high could the dollar go against the yen given the constraints put in play by the boj governor? i think we have actually lost our guest apologies for that's slight technical glitch. bullish on the dollar. let's move on. coming up, the rates for formula one and the u.s.. investors reported to be teaming up or the $8 billion bid for the sport. boeing made dennis mueller berg as new ceo. grexit, followed by a f

now with the euro trading higher, has leaned on the dollar. enciesbasket of dominated by the euro. the chart is looking for the bull to get behind the u.s. dollar. that helps march cap earnings, liquidity and global risk. alix: you wind up having a better economy in europe, the euro rises, the dollar falls. but in essence, doesn't that pressure mario draghi has -- to ease more, he doesn't want a strong euro, right? >> no. that is the tension that it gets too. what level does mario really think about getting more aggressive than be pledged today. he said, we will keep hiring that visit and to the end of 2016. from a market you, any risk professional would want to hear that, if you are bullish. i think that said it up. i think what is also important that his plan is starting to work, and he has taken deflation scares off the table. that is going to soften the german hard money stands that he has been battling for several years. i think there is more option now that he the road if you need to his game of further than he has pledged. alix: does tha

and definitely the losses in the dollar. look at the nikkei and the broader topix trading lower as well. the 12-day run came to a gain on tuesday about profit taking. that was despite the continued weakness against the dollar however. we're seeing a little bit of a loss in the dollar right now. it did hit 125 at one point. investors continue to bet the dollar will be more attractive in the process. but that said u.s. factory orders fell short of expectations on tuesday, driving the dollar lower. and indicating the the poor performance may be more than temporary. negative sentiment flowing through the markets there. also inflation data out of the euro zone was the big subject in the markets and consumer prices rising 0.3% in may, and that was a little bit higher than consensus expectations, and had a big impact on currencies. >> well speaking of which, what kind of impact is that having as well as what's happening in greece, where are key currencies trading now? >> exactly, some positives for the euro. i had the biggest one-da

the biggest drop for dollar-yen this year. the back of the governor's comments from the boj saying that is enough weakness are now. the problem is -- weakness for now. the problem is what he says is one thing and what he does is different. this morning, a lot more to come. let's lift the lid on some of the stock indexes. ryan: surprising and interesting stories this morning. bayer agreeing to sell its diabetes business the panasonic health care. buyers of bayer very happy. intertec, the world's largest clothing retailer. profits came up 28% above what it was for the same quarter of last year. clearly investors looking for more. finally, the shares are up, despite the fact that like for like shares are down 3%. it is better than the rivals. it is all about the competition. the discounts between the higher and and the midmarket. sainsbury's investors saying not great, but better than your rivals. jon: thank you very much. here in britain it is that time again. a year ago, bank of england governor mark carney lit a fire of specula

is the dollar/yen trading now and how about bond yields? they're also a big factor. >> yeah definitely, those two factors, the currency mark and the bond market. dollar/yen first, 122.94. those words led investors to sell the dollar hitting a two-week low. many analysts argue that kuroda and prime minister shinzo abe want to achieve inflation target by increasing demand among companies and consumers and not just a weaker yen. the other factor driving markets has been the jump in yields in major government bonds. the german government bond jumped above 1% for the first time since september. as the threat of falling prices has receded a touch. and the yield on the 10 year u.s. trez yee note 2.4. analysts say the fluctuation in the bond markets, as the greek debt problem is weighing on the markets, is causing a lot of volatility. now, we should also watch out for repercussions of a spike in oil prices which was one of the big reasons for the u.s. markets to rally, and over in asia the shanghai composite was lower yesterday as msci held off addi

joe: the big winner is the u.s. dollar. ill see people going more it is really the divergence between the central bank policies. while we, the rest of the world is even -- using. their currencies will depreciate and you have to buy something on the other end of that. it will be the u.s. dollar. we will see stuff still a lot better. they tend to be, as the u.s. dollar strengthens, people look overseas. people from the u.s. start buying foreign goods. exports are worth less. it is those two things that will benefit the most. about people who save their money? will they be winners or losers? lisa: hopefully winners. it is not clear. we told a story today about how really they will not see that quick of a benefit because of a dynamic and shorter-term bonds. they were not actually get that much more with respect to returns on their safer debt. over a longer time, they may be and to buy a treasury bond get 3.5%, something crazy, or 4%. pimm: cd rates. what of people who take out mortgages? >> they probably have a friend .n the fed

when the fed's going to move and the dollar's going to appreciate. certainly drive the currency. when you don't get the catalyst it drives it away from where the technicals would suggest. >> i want to go back to high yield for a second. if you look at the history of high yield, you know never gets redeemed, always gets refinanced. we have so much high yield sitting on balance sheets that will eventually come to you. and if rates do raise, by the time it comes due, this means there's going to be a lot of extra interest on the balance sheets with companies that really haven't invested in capital. they've been buying back their shares. what happens then? >> so i would say there are a couple of things. high yields very different paradigms in how they're running that are balance sheets. high yield companies i would argue, no doubt, putting on more leverage, no doubt forcing a lot of interest rate sensitivity in the marketplace. high yield for the last four or five years has done an amazing amount of refinancing and pushing that maturity wall out that the a

and in fact, the british pound today, 2015 high now against the u.s. dollar, with these perhaps a little more dovish comments than were expected. 10-year treasury yield dropping, despite spiking early in the session, down 2.32%. gold up about half a percent. the story we take away from this is most of the major indices up about a third of a percent now but the comments from the fed chair perhaps not as hawkish as we thought they would be. liz: not at all. it's very interesting to see she was crystal clear it's going to be this year. but i found it interesting at one point she said, look, we will keep it this year, definitely, and then next year, but i think that she tempers this by saying just because you see one rate hike doesn't mean the next opportunity you will see a second one, right? >> exactly right. she says look at long-term, the trajectory of where we expect rates to go. don't freak out about what the first, when the timing of the first rate increase will be. certainly chances now are higher. i think with december and september, but the comments bas

so we could see the dollar, the fluctuates in the dollar i think we have to sort of compartmentalize, separate from what's going on with the tpp, it will lower the playing field so those other factors are what we want to -- i think we want to separate that from the -- so the currency issues around the strength of the dollar. >> heidi, i love speaking to you, and your boss too, the labor secretary but i get oask you certain questions, you have done your own research. 280,000 jobs added in may, you yourself have done research to show that the largest group to drop out of the labor force are men 25 to 54. the prime of their working lives, do we have an answer for that? >> a stronger labor market, if we have stronger jobs if we have stronger wages we're going to start pulling people in. i mean we haven't seen a big turn around in labor force participation rate yet but in may the numbers that just came out we saw the labor force participation rate start to tick up. it looks like we are starting to see the beginnings of a labor market that's strong enough to bring people in. we're seeing pe

the united states. it's a multibillion dollar business. it is second only to the international crime syndicates of drug trafficking for amount of money that is raised. so it's not time for us to lower the amount of money we have for grants that will assist victims of this scourge. that is why my amendment adds or brings in $17.3 million, just $17.3 million to the -- to this fund that wases cut $17.3 million bring it up to last year's level so that $43 million will go for victim's services and victims' grants. where does this money come from? where are we taking it we're taking it out of the periodic census programs and applying it to this fund. the periodic census programs, let me make it clear, is not the constitutional census counting that is required to be done by the census bureau. this is another program that the census bureau does, sometimes called a community survey act, american community survey, that is very intrusive, it asks members without really much choice citizens, numerous questions that are invasion of their privacy. for ex

we saw the impact of the strong dollar in our first quarter gdp. that was down and one of the big drags on the economy was the strong dollar from the clock is ticking. patricia sabga. thank you. puerto rico is facing a debt crisis of its own. the governor is expected to release a reform plan today and over the weekend said that the island is in a financial death spiral. he wants to deter debt payments but some say that puerto rico is simply running out of time. >>> some call puerto rico the greece of the caribbean. the island has an unemployment rate of 14% per capita income is about half that of americans living on the mainland. the healthcare system is in crisis. and 11% cut is scheduled for medicare and medicaid. because that have doctors are leaving puerto rico at a rate of 500 per year. 200,000 puerto ricans have left the island. secretary state john kerry said that it's too soon to tell if negotiations on iran's nuclear program will meet its deadline. world leaders are in vienna to hammer out a deal before tomorrow night. we spoke with senior

the following. we still have a good group of dollar yen. ere is not really so much we can do for other currencies. specifically when you mention the yen. it is entirely driven by japan. it is being driven by a perception that japan is a bad place. fiscal and monetary policies have not worked there. jonathan: japan, du think it is a bad place? the dollar. rising. is it a reflection of a bad place or a reflection of the boj? whack's not -- >> not at all. they are the best performing by a wide mile. real wages are going up for the first time in two years. the economy seems to be getting some momentum. you have got corporations getting more aggressive in their cash. japanese investors are starting to see the equity market as a good investment. jonathan: i know this is back of the envelope stuff. you have a bank buying quite a lot of the market. you have a bank of japan pushing the pension fund out of the bond market into equities. that is in; the mental's to me. -- does not sound like fundamentals to me. >> you have a market with a portfolio gea

the dollar strengthens. at's where the market gets worried. and worrisome markets generally selloff. -- generally sell off. will the dollar hurt these emerging market? as far as the payback of their debt. and the emerging markets, i'm -- i don't think it's too much say we had a collapse there. and wait for getting back to somewhat more normal than where it was. stocks emerging markets are at the bottom, but we don't need emerging markets to buy our stuff. we are interrelated. scott: that is right. when you look at the earnings puzzle, 47% of revenues come from overseas. we need china to buy our goods. we need emerging markets to do ok. we do eurozone to grow. and i think it will grow 1.3% or something like that. those are all parts of the earnings puzzle that we try to put together to come up with the or earnings number. we need the rest of the world to participate. will beit will, and it modest, but it will be slowly moving in the right direction. lisa: one thing i found interesting is today we had more data

raised 0.4% against the u.s. dollar today but over the curse of june it's been settling in 1 12 around that area. 123.64 today. sterling is flat ahead of the monetary policy committee minutes from england. sri is standing by for us in singapore. sri, over to you. >> hi there wilf. all in all the asian markets today turned in a pretty strong performance considering that we're going to learn from the fed what the path to normalization is going to look like especially from that press conference from janet yellen so i would have thought there would be a bit more caution though after a very choppy session that i'll talk about later on the move is this. there's a sense that yellen will air on the side of caution and we'll see her strike a dovish tone and that could be positive constructive for global equities including over here. let's return to the shanghai market. we saw another day of choppy trading but high volatility is going to go hand in hand with the high leverage investors are still holding. mainly retail investors o

and we also saw the dollar rising against the yen which should help exporters. but let's look at how the nikkei and the topics are kicking off this thursday june 4th. up .27%. the highs were dented a touch after two days of declines. but with the dollar regaining the 124 yen levels that should cheer investors here which it seems to be doing so far. another positive was the private sector jobs data which comes before the main jobs number friday in the u.s. and that showed an improvement from april and the u.s. trade deficit narrowed sharply in april as well which is giving hopes for second quarter gdp growth in the u.s. as well. watching out for japanese automakers honda many are gearing up to revamp a lot of the models sold in the u.s. aggressive moves by honda, shares sold in the u.s. adrs, american depository receipts rose on wednesday. tepco, a big attraction for retail investors. we have seen shares of tokyo electric power company which was hit hard after the 2011 disaster it soared 50% since the end of april being the third biggest gainer on the tokyo stock

but you could see it in terms of the dollar-yen as well. the yen was stronger against the dollar. what is that about? joe: last monday it looked like greece would get the euro was weakened. today felt like the opposite. you had everything falling apart, and the euro showing strength. the dollar weakening against the yen, greece and puerto rico, maybe people are skeptical about the fed hike. alix: joining us from london is paul mcnamara. onset is the chief u.s. economist for bloomberg. thank you so much for joining us. european leaders say it is down to the greek government to step back. big banks are increasing the probability of a grexit. this is a fascinating chart. r.b.s. doubled its chance of a grexit. morgan stanley up to 60%. eurasia up to 60%. what is your call? >> i think the majority likelihood is that they stay within the eurozone. however, public polling has taken an interesting twist. if you ask greeks if they want to stay in the eurozone, about 80% say yes. if that is the only question. if you say do you want to stay in the eurozone with these conditions of austerity,

. >> the aussie dollar surges. the rbi cuts rates signaling the indian economy is not yet on track. >> british-american tobacco falls after a canadian court requires it to pay billions in compensation for its part in smoking related illnesses. >> a chinese river cruise capsizes in the river. more on that coming up. >> welcome everyone to the show. you are watching worldwide exchange. a couple of economic me tricks coming up in the next hour. let's get you up to speed. the german jobless rate steady at a record low in rate. germany's unemployment rate remaining at a record low in the month of may. private consumption will propel growth in europe's largest economy. we're looking at 6.4%. that's the unemployment rate. the euro gaining a bit of ground against the dollar right now at 109. a similar level it was trading at last week as well. you can see that by a quarter of a percent against the u.s. dollar. >> we also have greek pmi data that has just broken. a slither of good news for the greeks. it's risen to 48 in may

since march, we have come off highs on the dollar. question going onto the decision days of the fed is is the fed going to be on track for its first interest rate hike since 2006? they are giving us a clear indication that we aren't going to see an interest rate change today from the fed, but watch out for the expectations of the members of the fomc of where interest rates are going to go over the next period. how high our quarterly borrowing costs going to be? that is going to be followed by janet yellen's press conference where the focus will be on the pace of interest rate hikes whence the cycle does start. in the last stock plot we got from the fomc members in march, they downgraded their forecast for how quickly we will see them rise. that was one of the reasons why we saw things moving sideways or downwards on the dollar index. that is a look at the foreign exchange market -- let's get you up to speed on the stories you need to know. christine lagarde is due to speak in brussels later today, after the greek prime minister said t

i think if you believe in a strong dollar leveraging the strong dollar to go more international sort of an interesting thought in this environment. we think you created a very disciplined approach to the private equity world for an investment perspective. i know in your previous discussion you made to mention about -- selection. when we look at your portfolio we believe your staff is implementing best practices in their manager selection. i think you all done a good job putting together world-class purse portfolio that you should be proud of. >> all right. is that it? >> that is it to ship any of the questions q >> yes i have a question. will try to work off -- on looking at your page 5. the issue has to do with the dry powder overhanging. with the rapid pace to invest. with a rapid pace that would increase allocation unit this more money coming back. let alone consultants and other people around the world particularly in the united states or recommend more people go into this area to include in the retail level.'s more cash coming in probably two reasons which i think you are identif

the dollar actually fell significantly after the fed announcement and adding to the weakness was the may cpi data that came out lower than expected implying that consumer prices are still not high enough for the fed to consider raising rates. cpi rose 0.4% but many were expecting a bigger rise still weekly jobless claims showed a fall in unemployment insurance on thursday. lot of focus on the euro as well, one stage surged to a one-month high against the dollar following a report saying greece was given a partial extension on the loans but lost ground after that turned out to be false. in the asia-pacific region we'll continue to monitor the likes of the shanghai composite and hong kong kong's hanseng which traded lower on thursday a series of initial public offerings and mergers and acquisitions activity seem to have zapped a little bit of market liquidity. we shall see how that develops today. i'll have another wrap wrup in a-up in a couple of hours. for now the nikkei is nearly up 1% in the first few minutes of trading. >> we'll check in with you in a few hours' time. >>> the u.s.

steven: particularly against the dollar, the key driver is the qe, and the euro/dollar is currently driven data. and the reason for that is the market has a view that greece may go down to the line, but there will be a deal at the end of it, and i think that is the key point here. or is, however, going back to what we spoke about earlier, a relationship with the strength -- swiss bank. there is a strong relationship with the swiss franc. this is a concern about greece. jonathan: you have to follow this kind of thing. there is a meeting later this week. are they going to have to move again? ramin: they lost credibility with what happened previously so i think people take guidance with result. whenever the meeting, whatever the outcome of the meeting seems to be, i think people will not take them seriously. jonathan: just pick that up. they thought that, and then it wasn't, and now people sit here taking the other view. steven: well, we are quite bearish the swiss franc, both against the euro and the dollar. we think they have changed their strategy with that hard floor at 120 towards very v

the dollar seems to have peaked versus the dollar.s double digit earnings growth will become very impressive if the euro makes a rebound versus the dollar. and those constant currency numbers become real numbers. let's not forget. noted activist nelson pelt has a nearly 3% stake in mondelez. i think many of the margin gains are to eliminate corporate overhead and focus on improving margins. he won't stop until the margins exceed those of its competitors. that's why we recommend stocks when pelts takes a long-term position.z takes a long-term position. the bottom line is i think mondelez now has what it takes to go higher. even if peltz's dream doesn't come true. mondelez has been cutting costs and focusing on its power snack brands. and the result is that the company would have truly phenomenal growth if it's not for the insanely strong dollar. but if you believe, as i do that the dollar has peaked then perhaps it really is time for mondelez to break out, and this move isn't the end, but the beginning of something that can last a very

also, the dollar at a 13 year high. also on the back of that jobs report and the belief that we will see rates rise despite what the imf has said. mark: the new york fed president says central bankers are still likely to raise interest rates. here is the quote from a speech in minneapolis. i would expect in the absence of offering -- ud has a permanent phot on the marketing committee. the fed meets again on june 17 and june 18. betty: this came in the wake of a jobs report not seen since the holiday season. payrolls jumped in a may by the most in five months. employers added 280,000 jobs. economists surveyed by bloomberg. companies are more optimistic at the economy after the first quarter slump. month fors the best wage growth that we have seen since august the 2013. we still have a lot of work to do on real wage growth but this is promising. betty: the jobless rate inched up at 1/10 of a percentage point. the greek prime minister called on international creditors to withdraw their unrealistic land to provide the nation

mark mention the strength of the dollar. was as much about the rising dollar as it was about the declining euro, which was falling because of the concerns about greece and whether they could get any deal done. let's get a look at some of the top stories at this hour. the ecb president mario draghi says it's up to the government to take the next step to break the deadlock with creditors. draghi spoke at a hearing of the european parliament. draghi: such a strong agreement is needed, and not only in the interest of greece, but the euro area as a whole. why all the actors need to go the extra mile, the ball is squarely in the camp of the greek government to take the necessary steps. will: officials said they discuss aid and collateral lending the street before the euro region finance ministers meet on thursday. a win in court for hank greenberg, but no damages. the federal court has ruled the u.s. set a legal terms in an aig stock exchange for a billion dollar bailout. at that does not mean shareholders deserve any compensation

the u.s. would lead to a dollar rally but over the last week we've seen the broader dollar index hit a three week low. the euro has been pushing past 113 but we're now back at 1.122. down 0.3%. today correcting 123.77. quick look at commodities. the oil prices have held up well since that opec decision not to cut production. 60.1 on wti and brent 64.7. >> coming up on worldwide exchange, we're live as former imf chief awaits to hear the verdict in his aggravated pimping trial. >> twitter's management reshuffle is stealing the headlines but find out what facebook shareholders did not like at the annual meeting. that's coming up. plus it's a slam dunk for the nba as youtube goes crazy for the finals. we'll get you that story after this short break. the pursuit of healthier. it begins from the second we're born. after all, healthier doesn't happen all by itself. it needs to be earned... every day... using wellness to keep away illness... and believing that a single life can be made better by millions of others. healthier takes somebody who can power modern health care... by connecting every single p

angie: where do you think the u.s. dollar will go? think the noise to signal ratio is wrong. it is probably still a strong dollar. but it is hard to affect the current environment. it reminds me of 2013. the major economies as a group look ok. in asia, we probably have some vulnerability. even in the last couple of days, strong numbers out of the u.k., weak at of new zealand. the dollar has treated strongly in asia. i think that pattern will continue. angie: also looking at the aussie dollar as it plays out against the fed story. also the domestic story. guest: the domestic story looks ok. it is not fantastic but it looks better than it was. it flatlined. shifts policy chief -- away from a tight credit policy toward something that seems to say, let's stabilize the economy. that helps the commodity story as well. ,t is a bit of a lifecycle commodities driven by different dynamics. for asia generally, the rates are still having this uncomfortable problem that fans are going to hide. the u.k. looks like they might hike. a higher cost of

. $1.12 79.ncreasing -- the dollar also losing ground against the pounds hurling. let's get right to some of the

page 52, line 21, after the dollar amount, insert increased by $50 million. the chair: the gentleman from florida, for what purpose does to -- for what purpose do you seek recognition? mr. diaz-balart: i reserve a point of order on the amendment. the chair: the gentleman's poifert is reserved. pursuant to house resolution 287, the gentleman from virginia and a member opposed each will kohl five minutes. -- will control five minutes. mr. connolly: thank you, mr. chairman. i rise to offer an amendment to restore full funding to america's subway, the washington metropolitan area transit authority or metro. let me remind my colleagues, this is not like the traditional transit or capital funding under the department of transportation. the passenger rail investment improve act of 2008 specifically authorized $150 million annual federal commitment for 10 years and congress has worked in a bipartisan fashion for the past six years to fulfill that. it was a republican initiative, initiated and authored by my predecessor, republican member tom davis of virginia. as requ

against the dollar, this will be a wild ride for a while. on the winklevoss twins they were two of the first names people with reputations, to attach themselves to bitcoin to say we own large quantities of bitcoin. they began by buying it up, made an investment in a startup called the instant that ended up going under. but they winklevosses have dedicated themselves to it completely. i did an event with them last night that said -- where they said this has become the entire life at this point. they have to dig projects. one is an exchange traded fund. they plan on having it trade on the nasdaq and will move with the price of bitcoin. the other is an exchange where you can buy and sell bitcoin raised in new york and regulated. the winklevi, as i call them, have thrown their lot in with the idea that bitcoin needs be regulated. that is their view. they are trying to build these etf exchanges that will play well with regulators and try to gain confidence in that way. both their projects have been a long time in development and are not yet out th