The U.S. economy is firing on all cylinders, and the moves can't be matched by the European Central Bank.

What is helping the dollar is the moral persuasion of the central banks. There's been contact between the European Central Bank and national central banks that make up the ECB urging calm, urging a block on any kind of speculative trading. The Federal Reserve has also weighted in and asked that dollar trading be limited. I think that will support the currency.

A Central Bank official said that Q-coin did not affect the renminbi; it adds vibrancy to the economy.

These are the sort of numbers that should give extra leverage to the ECB (European Central Bank) to keep pressing rates higher, but we still believe the benign inflation picture will force them to adopt a softly, softly approach to tightening this year.

A combination of strong U.S. economic fundamentals and mixed signals from European Central Bank officials with regard to the likelihood of intervention, paved the way for the dollar to extend this week's rally.

History proves... that a smart central bank can protect the economy and the financial sector from the nastier side effects of a stock market collapse.