The US dollar gained early on in Asia on......>

FOREX: The US dollar gained early on in Asia on Monday, building on post-NFP

gains from Friday. The move higher was short lived and the dollar index weakened

as the session progressed, DXY last down 0.047 at 89.149. Early on EUR/USD

dropped as the dollar strengthened and euro was sold on concern over the German

coalition talks, the latest over the weekend was that while progress has been

made the two sides are still some way from a deal. After dropping as low as

1.2425 the pair recovered to 1.2458 last. GBP/USD also dropped early on,

pressured by more reports of a Tory Brexiteer revolt over the weekend, after

touching 1.4083 the pair bounced to last trade at 1.4120.

- Aussie too had a soft start, hitting .7891 before rebounding to 0.7930 last.

Move higher was supported by a jump in the China Caixin Services PMI at 54.7

(est. 53.5, prev. 53.9).

- USD/JPY dropped as the yen strengthened in broad risk off trade, last down 22

pips at 109.92, session lows just underneath at 109.79. USD/CAD is lower as oil

retreats further, WTI continued its drop below $65/bbl after Baker Hughes US Rig

Count showed a jump in drilling activity to the highest level since mid-2017.