Politics were at the fore of traders' minds...>

FOREX: Politics were at the fore of traders' minds on Monday. The establishment

claimed victory in Germany as the SPD Party voted to proceed with Grand

Coalition negotiations with the ruling CDU/CSU party. The Italian elections were

nowhere near as conclusive, with the anti-establishment 5 Start & League parties

outperforming, although exit polls point to a hung parliament. Trump also upped

the ante against the EU over the weekend threatening the bloc with auto sector

sanctions if it decides to hit back against last week's metal based tariffs.

- The EUR was choppy, and last trades broadly unchanged vs USD, while the JPY

outperformed on the heightened risk-aversion.

- The commodity currencies took a hit from the heightened geopolitical risk,

while GBP edged lower.

- Notable risk events for the remainder of Monday's session include the BoJ Dep.

Gov.' nominees' confirmation hearing, UK, US & EZ services PMIs & comments from

Fed governor Quarles.