It was slightly dollar-positive. The price component, it's still bubbling. That is of concern to the Fed.

New Zealand is one quarter away from recession. The New Zealand dollar is firmly embedded in a long-term decline.

Delving into Iran's export mix to see what possible disruptions may surface should the U.N. Security Council impose sanctions on Iran for non-compliant behavior, causing Iran to retaliate in the form of curbing oil exports, Japan is most exposed.

It is too early to write the dollar off just yet. I'm not convinced that the best is over for the dollar. The market has moved to a stance that is too dovish on the Fed.

The dollar's gains are pretty much broad-based, with losses being led by the euro.

All in all, developments on Rita and the G7 statement have not made me think the dollar rally will lose momentum anytime soon.