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Dollar jumps back as EUR/USD drops below 1.1081

A short while ago the USD/JPY rebounded back above 141, towards 141.20 and that was the catalyst for further downside in the GBP/USD and the EUR/USD. Once the Euro fell below 1.11 the pace quickened and looks like it might have tripped some stops below the former Fibonacci resistance level, at 1.1081. The low seen on that run was set at 1.1072. It has bounced a bit since but as of yet, it is still rebound back above 1.11. The impact of all these moves has helped the USD index (USDX) recover smartly off its earlier session lows, at 100.61. The index has since traded back above 101.00. The EUR/USD is currently trading at 1,1095

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