• Up 0.5% recovering Friday's 0.45% fall as the USD fell at the Asian open

• USD sold as Trump's Treas Sec pick Scott Bessent is well received by markets

• 10yr UST closed at 4.414% Friday- opened at 4.351% on TWEB, e-mini S&P +0.4%

• Sterling was undermined on Friday by weak PMI data after the budget

• There is no UK data - BoE's Lombardelli and Dhingra are due to speak

• Charts - mixed daily momentum studies, 21-day Bollinger bands expand

• 5, 10 & 21-day moving averages head lower - a negative trending setup

• Friday's 1.2475 low and then the 1.2446 May low are initial supports

• Close above last week's 1.2713 high would be a positive signals

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