Sterling is the big mover in early Asian trade but hasn't been doing much since
Cable is trading around the 1.3000 handle once again after having opened with a gap higher as the pound gained on the back of weekend news that a Brexit deal is close to being done. GBP/USD started the day at the high of 1.3065 before slowly slumping as optimism is tempered with, moving to a low of 1.2983 before recovering towards 1.3000 now ahead of European trading.
The rest of the major bloc remains in a bit of a snooze with a lack of movement seen across the board. The only other decent mover has been the kiwi as the currency slumped following poorer risk sentiment to start the day as well as poor Chinese PMI data earlier.
The session ahead should see risk remain on the softer side and that will keep any bids in the aussie and kiwi limited while also helping to cap gains in yen pairs as well. E-minis are trading 0.4% lower on the day currently.
Other than that, the usual headline risks apply for Italy and Brexit but expect dollar sentiment to start focusing more on the US midterm elections to come tomorrow; although it is something we'll see more in US trading later and tomorrow.
