The pound is the notable mover to start the new week
Cable is off three-month highs as it falls to around the 1.2600 handle ahead of European trading, after the DUP dashed hopes of Johnson's Brexit deal proposal and the EU themselves beginning to question the workability of said proposal as well.
It has put some early pressure on the pound but the overall rally hasn't been thwarted altogether just yet. That said, optimism is waning and the light at the end of the tunnel may yet be an incoming train instead of a way out.
The kiwi is also under some light pressure amid buying in AUD/NZD while China's trade figures earlier were mildly disappointing, not really helping to alleviate pressure off both commodity currencies to start the day.
The dollar is holding slightly firmer but nothing major as trading ranges against the euro and yen remain more narrow still as we enter the European morning.
Looking ahead, there is little on the agenda to cause a stir in markets so expect headlines as well as the ebb and flow to continue driving trading sentiment.
I reckon that there are still some hints of optimism at play from the US-China trade truce but it's a question of how long can that last as markets adjust to the reality that it will do little to alleviate pressure off the global economy in the long run.
