Cable below 1.3100
The US dollar is getting a fresh bid as New York trade ramps up.
Quick 15 pip moves have lifted the dollar against the commodity currencies and weighed on EUR/USD and GBP/USD. Cable is back below 1.3100 and has now given up have of Friday's rally.
The market still doesn't believe Trump is going to hammer US importers with a massive tariff.
At the same time, it's Trump and no one dares predict what he's going to do next or how far he will take this threat before he balks. The main watch is on the Chinese side of the equation for how they respond. So far they've said they're still 'preparing' for talks this week that were supposed to go into effect on Wednesday.
