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Dollar rebound extends again as EUR/USD has a look below 1.09

The rebound in the dollar is extending further this afternoon. The USD/JPY has risen further above 148 and just now traded above 148.50. At the same time the GBP/USD has dropped very close to the 1./26 handle and the EUR/USD has busted to below 1.09 now. The low seen a short while ago was set at 1.0893. There is still over an hour to go before the final 4pm London Fix of the month and we could yet have some decent sized dollar based orders for that fix. Right now it is hard to see where a significant bout of fresh dollar selling might come from, but at the same time it is possible. However, as I have said since Tuesday, I thought that month end negative dollar re-balancing was all done and dusted now. The EUR/USD is a little higher now, currently trading at 1.0906

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