It was a fairly quiet start to a busy week. Investors weighed U.S.President Trump's relatively hard-line remarks (he labelled Huawei a "national security threat") against earlier press reports suggesting that U.S. Commerce Department may extend a reprieve given to China's tech giant that allows it to buy supplies from U.S. companies. With that in mind, risk sentiment was positive, with participants bearing in mind the distinction between U.S. administration's actions vs. Huawei, and what is allowed for private enterprise.

NZD was the worst G10 performer, with BBG citing reported AUD/NZD purchases on the perception of easing US-China tensions. ‍

CHF fared only slightly better, failing to recover from an early dip driven by broader risk-on flows.

Japanese July trade deficit was wider than projected, after a Y589.6bn surplus registered in June,while both exports and imports shrunk. JPY shrugged off the release; most JPY crosses oscillate around neutral levels

Economic Data:

Europe's main data event on Monday morning is the release of the final inflation data for the Eurozone at 1000 BST, while the U.S.'s calendar sees a quiet start to the week.

Dollar Index:

EUR/USD