GBP was offered after BoE's Vlieghe said......>

FOREX: GBP was offered after BoE's Vlieghe said that he could back a rate cut,

if this month's data doesn't show improvement. Last week, his MPC colleague

Tenreyro suggested she's warming up to the idea of loosening policy, while Gov

Carney talked up the ample policy space available to the MPC. Elsewhere in G10

FX, price action seemed driven by risk-on dynamics. Some pointed to the imminent

signing of U.S.-China phase 1 deal & a Japanese holiday sapping liquidity.

- A softer than exp. PBoC fix failed to bring a sell-off in USD/yuan to a halt.

USD/CNH & USD/CNY both traded below 6.90 for the first time since July.

- Asian EMFX broadly outperformed the greenback after a soft U.S. NFP report

released Friday, with IDR and KRW leading gains. The rupiah sank through a

multi-month low printed on Friday, when BI said they will let IDR strengthen.

KRW was aided by preliminary local trade data, which saw chip exports rebound.

USD/KRW crashed through support from the Jan 2 multi-month low but pulled back a

tad. TWD benefited from the re-election of Taiwan's pro-independence President.

- Vlieghe's comments put UK monthly activity indicators in focus today. Central

bank speaker list includes Fed's Rosengren & Bostic and Riksbank's Jansson.