FOREX SUMMARY

USD started the European session better bid, a continuation of the Asia session, but gains have been unwound.

• Investors and market participants are mostly sitting on the sideline ahead of the EU Summit and potential Brexit deal or no deal, extension or no extension outcomes.
• GBP took couple of legs higher, and remain sensitive on any Brexit/Trade headline.
• USD unwinding also helped Cable.
• Earlier, Raab: "We Are Close To Brexit Deal,", and later following Ireland Martin, noting constructive talks.
• ALL EYES are on potential timing for Boris, but NO set time yet.
• More likely that we will hear from him after the EU summit outcome, but these summits are notoriously known for not sticking at timings.
• EMFX are generally better bid against the USD, as Risk trade in green territory, following overnight news that US Trump would be willing to put forward any Stimulus that would be agreed between Pelosi and Mnuchin.
• Rand is the best performer in EM against the Greenback up 0.53%, but local desk report fairly subdued turnovers, as the Global awaits on the EU Summit.
• Looking ahead, US Retail sales, industrial production & the Uni of Michigan confidence. Fed William and Bullard.
• Earning season continues with State Street reporting today.
• All attention of course on the EU Summit conclusion.