GBP/USD failed to settle below the support at 1.3300 and is trying to get above 1.3350.
The dollar drifted lower in early European trade Monday, as lingering vaccine optimism and expectations of more Federal Reserve largesse see traders desert this safe haven. At 3:55 AM ET (0755 GMT), the U.S. dollar index, which tracks the greenback against a basket of six other currencies, was down 0.1% at 91.705, having fallen to its lowest level since April 2018 and set to record its largest monthly fall since July, down 2.5%. “We expect USD to stay on a gentle downtrend as the prospect of the Fed adding more liquidity if needed should keep a floor below risk assets and the U.S. data-flow may remain mixed,” said analysts at ING, in a research note.
Economic data from China impressed early on. With a quiet day ahead, Brexit and COVID-19 news will remain key areas of focus.