The USD has been on the back foot, after its tremendous strength, following last Fridays Non Farm Payroll employment situation report.The US dollar index which has risen for the last twelve weeks in a row was -0.87% lower this morning. Following on from the Reserve Bank of Australia meeting, where there was no change in monetary policy ( 2.5%)  and commentary suggesting that interest rates where appropriate for the immediate future the AUD held earlier gains ( .8809/ +0.55%) . Similarly, the YEN was stronger after the Bank of Japan meeting, where policy was kept unchanged. ( 108.45 / + 0.29%) .The EUR has rebounded after testing lower levels (1.2583)  following on the back of weaker German Industrial Production data . With a light economic calendar over the next 24 hours as the market looks to the FOMC minutes tomorrow afternoon expect USD strength relief to continue.