European pre-market: Pound a tad bit softer to start the new week

Author: Justin Low | Category: News

Major currencies remain trapped in narrow ranges

WCRS 20-01
There isn't much moving markets to start the day as investors can look forward to a long weekend in the US in observance of Martin Luther King Day.

The pound is a tad softer amid Brexit remarks by UK finance minister, Sajid Javid, over the weekend but cable is still resting close to the 1.3000 handle in a 23 pips range.

The rest of the major currencies bloc is a bit more mixed with little change overall. Dollar pairs are trading within a 20 pips range with <0.1% change currently.

Oil is arguably the main mover after weekend news that Libya is curtailing its exports. Brent is up by 1.2% to $65.63 at the moment.

Looking ahead, there isn't much on the data docket to impact markets in the European morning so look towards the ebb and flow as well as any headline surprises to drive trading sentiment before we get to a slower session in North American trading.

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