Not much on the order books in any of the major pairings (apart from USD/JPY bids at 77.00) so we might be in for a volatile session once Europe gets up and running. The low so far in EUR/USD has been 1.3742 and I’d expect to see some intraday longs running for cover if it breaks much lower. Cable might also struggle into early London as dealers get ready for a week of potentially negative economic headlines (BOE growth forecast, unemployment, inflation).