Zzzzzz. The CBOE Volatility Index (.VIX) is drifting lower as the afternoon yields a few hours of uninspired trade. The major averages are mixed, with weakness in the Dow and the NASDAQ, but modest gains for the S&P 500. VIX is down .26 to 19.80 and possibly set to close below 20 for the first time in 2008. The “fear gauge” has been drifting lower this week, as risk perceptions ease amid relatively upbeat earnings news (well, not as bad as feared). Meanwhile, crude oil continues to run higher, up $2.44 to $118.50, but that news seems to be getting little play with more focus on the rallying buck. After breaking through 1.60 on the euro Tuesday, the dollar has seen three days of green and hit a low today of 1.554 earlier today.