GBP/USD gained strong positive traction for the sixth consecutive session on Monday. Reduced Fed rate hike bets continued weighing on the USD and remained supportive. A sustained move beyond monthly swing highs will set the stage for additional gains. EUR/USD finally surpasses the key barrier at 1.20 the figure. Further north of 1.20 comes in the 100-day SMA around 1.2050. The dollar traded largely flat in early European trading Monday, remaining near a one-month low, with Treasury yields hovering near the lowest levels in five weeks. The dollar index was marginally lower at 91.523, not far from last week’s low of 91.484, a level not seen since March 18. USD/JPY was down 0.2% at 108.53, while AUD/USD rose 0.1% to 0.7741. The 10-year Treasury yield last traded at 1.55%, a sharp fall from the high of just short of 1.78% seen at the end of last month, reducing the appeal of dollar-denominated assets as an investment. The Federal Reserve has been persistent in communicating with the market that it will look through rises in inflation, considering them temporary, keeping the central bank’s ultra-easy monetary policies in place for some time. Fed Governor Christopher Waller continued the theme on Friday, saying the U.S. economy “is ready to rip” as vaccinations continue and activity picks up, but a rise in inflation is likely to be transitory.