Slight dip in cable as trading remains relatively muted

GBP/USD moves towards the bottom side of the range

A minor dip of about 15 pips in cable, in a time of thin liquidity as we await European markets to open - falling from mid 1.4030 levels to a low of 1.4013. The low for today remains at 1.4009.

The FX market has been rather muted so far today, with current prices not much changed from last Friday's close and the trading ranges are still relatively tight.

The AUD remains the leader of the major bloc, but AUD/USD is only up 11 pips so far today. Meanwhile, the yen continues to weaken further as USD/JPY touches session highs of 106.48 as the Nikkei continues to gain further on the day, now up 1.91%.