The Canadian Dollar (CAD) remains on the defensive against the US Dollar (USD) on Monday, weighed down by weaker domestic sentiment and falling Oil prices. At the time of writing, USD/CAD is trading around 1.4035 as the Greenback holds firm amid cautious optimism over US-China trade talks.
Concerns about the health of regional banks and the broader quality of credit in the US remain very central for FX markets, ING's FX analyst Francesco Pesole notes.
The EUR/GBP cross gains ground near 0.8690 during the early European session on Monday. The Pound Sterling (GBP) softens against the Euro (EUR) on lingering fiscal concerns in the United Kingdom (UK).