The U.S. dollar may be rattled by the bond market, portfolio manager Axel Merk tells Bloomberg TV

"…'Remember, the euro is around $1.45 now, it is not at parity. We have this dialogue between the bond market and the sovereigns and the banks. In the U.S. the key difference is the bond market is behaving and as a result we are not instituting any meaningful reform. At some point, the U.S. bond market [may] act up... and at that stage ...it may be far more painful as far as the U.S. dollar is concerned..."