EUR/USD trades 5-10 pips softer at......>

EURO-DOLLAR: EUR/USD trades 5-10 pips softer at ~$1.1675.

- The pair hasn't reacted to reported comments from Bundesbank chief Weidmann,

with Handelsblatt sources suggesting that the head of the BBK warned the German

government of rising economic risks back on July 06. The paper also noted that

Weidmann stated "the government would have to step in when the next downturn

hits as it will take so long for the European Central Bank's monetary policy to

normalise that it would have little scope to act." The comments provided little

fresh insight, with Weidmann known to be a hawk, while the Bundesbank cut its

domestic growth forecast back in June.

- The pair's follow through above the 55-DMA ($1.1733) was lacking last week and

resulted in a dip back towards the $1.1589 support. Bears now need a close below

this level to initially pressure 2018 lows. Bulls now need a close above the

July 09 high ($1.1790).

- Final Eurozone June CPI data will hit on Wednesday, with the EZ docket

somewhat subdued this week.