FX SUMMARY

USD trades mixed, despite the better early bid in Equities, with Auto leading gains in Stoxx600.

• With investors and market participants waiting on Brexit US stimulus and the Fed tomorrow, most pairs have traded within ranges this morning.
• GBP saw some early selling, combined with short term long bailing out as we broke below 1.3300 in Cable.
• Brexit is at the forefront, and although extensions from the weekend talks is seen as positive, mood is fragile.
• Cable has faded the early weakness to trade back above 1.3300 at the time of typing.
• EURGBP tested resistance at 0.9230/45 High Dec 11 / 2.0% 10-dma envelope, printing a 0.91489 high.
• AUD has recovered some of its overnight weakness, that was driven by US lockdown fears, helped by the better Equity bid during our European morning session.
• Nonetheless AUD still trade in the red against all G10s, besides the kiwi, up 0.08%.
• Looking ahead, some focus on US IP, and on the speaker front, ECB Lane and BoC Macklem are scheduled to speak.
• All eyes are squarely on Brexit, US stimulus progress and the Fed tomorrow.