The dollar is now about 2% off its highs seen late last week. Economists at ING consider this a pause not a reversal in the dollar's bull trend.

Dollar rally pauses for breath

“The emerging market environment still looks challenged given that the stronger dollar is effectively exporting tighter Fed policy around the world.”

“DXY could correct a little lower to 102.30, but we see this as bull market consolidation, rather than top-building activity.”

“Not until the Fed pours cold water on tightening expectations should the dollar build a top.”