EUR/USD proved to be a bit of a side....>

EURO-DOLLAR: EUR/USD proved to be a bit of a side show to sterling Brexit driven

activity. Rate managed to clear above $1.1320 during the European morning which

allowed it to extend the recovery off Friday's post flash PMI lows of $1.1273 to

$1.1331($1.1332 50% retracement of Friday's fall from $1.1390 to $1.1273),

though momentum was not too inspiring. Recovery aided by earlier release of

Germany Ifo, which came in as expected and showed an improvement from last

month, with a slight paring or the earlier risk aversion seen in Asia. Next

resistance seen into $1.1345/50($1.1345 61.8%) ahead of $1.1362(76.4%). Support

$1.1300 ahead of $1.1280/70. 

- Tuesday brings Germany GfK Consumer Confidence at 0930GMT, considered of

interest following last week's flash PMI's. Fed speakers during the day though

little in the way of major data releases.