Session Recap: GBP outperforms in quiet trading

FXStreet (Córdoba) - Another transition session Monday, with the dollar from little changed to a tad weaker versus majors competitors and the pound among the best performers ahead of the BoE Quarterly Inflation Report to be released next Wednesday.

The EUR/USD is nearly flat trading at the 1.3755 area, after bottoming out at 1-month low of 1.3745 Friday in the aftermath of Draghi’s easing signals. The USD/JPY failed to sustain above 102.00 and consolidates in a slim range just below.

Meanwhile, the Sterling is among the best performers, with the GBP/USD reaching the 1.6900 area, trimming last week’s losses and the EUR/GBP at 16-month lows.

US stock futures pointed to a higher open on Wall Street on Monday taking inspiration from European peers.

No major data is expected during upcoming New York session while Philadelphia Fed President Charles Plosser will speak later in the day.

Main Headlines in Europe:

What’s the sentiment around the EUR/USD today? – Commerzbank and Danske Bank

Nowotny: If ECB acts just cutting benchmark may not be enough

ECB's Constancio and Nowotny refuse to speculate on possible action in June

Analyst roundup: Consensus is for BoE hike in the first half of 2015