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Since before and after the European stock markets kicked off the new week, the dollar has been falling back. That has seen the GBP/USD lift above 1.2975 and the EUR/USD extend gains back above the 1.0800 handle. At the same time the USD/JPY is falling back closer to the 153 handle and seemingly struggling to hold above an earlier breakout level, at 153.40. The EUR/USD has in fact, just now reached a session high at 1.0821 and hence lifting back towards where it stalled on Friday, at 1.0839. Interestingly, the fall back in the US currency comes even as US treasury yields remain elevated. It also comes as Gold edges lower. That all said, the rebound in the Euro is by no means conclusive at this stage, as it has yet to break any fresh ground and so it could reverse this move once again. We shall see on that. The EUR/USD is currently trading at 1.0818
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