U.S. Dollar Loses Steam, but Still Has More Room for Growth

The U.S. dollar still has more room for growth left, according to one strategist. TheStreet's Scott Gamm speaks with Brian Rehling, co-head of global fixed income strategy at Wells Fargo Investment Institute, to discuss how the dollar's falling value affects the Federal Reserve's plans to hike short-term interest rates, which have remained close to zero since December 2008. While Rehling believes a rate liftoff during the central bank's June and July meetings are off the table, he'll be keeping a close eye on subsequent meetings, including September, as the Fed analyzes incoming economic data during that time. When the Fed does lift rates higher, it will be the first increase the fed funds rate has seen since 2006.