Monday night, Chairman Bernanke hinted that any pullback in easing would start with hikes in the interest on excess reserves (IOER). Reserve Bank of Australia board member Kent spoke overnight saying that cooling inflation data opens the door to more easing while Treasury Secretary Swan said that the Australian dollar remains strongly overvalued. The EUR/USD was higher at 1.3097 as Japanese money flows into European bonds in search of yield and the dollar gained against the yen to 99.43 as the pair tries to make a run at the dreaded 100 level.