Dollar has traded as the weakest one on Monday after it’s rally attempt failed. Additional pressure was seen from US session after retail sales miss. Tension between the US and Saudi Arabia and the risks of sanctions are seen as a factor weighing down the greenback. Meanwhile, Sterling gapped lower at weekly open after weekend’s Brexit negotiations failure. But the Pound gradually regained footing even though there is basically no positive Brexit news. For now, there are still hope that the UK and the EU might agree to something after this week’s EU summit.
Looking ahead, UK employment data will be a major focus in European session. Eurozone will release trade balance and German ZEW economic sentiment.