After a sharp drop in the dollar in the overnight session, which had set the greenback for its worst week since February, the BBG dollar index has surged, and was trading near session highs following today's mixed economic data.

Some have attributed the rebound to the strong revision in retail sales despite the latest miss; the strong Industrial Production data and the near-record consumer confidence are probably also helping.

The dollar strength has led to some equity weakness, with both the S&P and the DJIA now trading just barely in the red, as the Nasdaq remains the only index to have gains for the day.

Meanwhile, as the dollar rises, emerging markets currencies are once again getting hit.

Finally, the other notable move in the morning session has been 10Y Yields, which peaked above 3.00% briefly, before dipping just under the key level which many have been keeping a close eye on to determine future trends in the very much rangebound 10Y Treasury.