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• The greenback is modestly softer against all others in G10, as markets partially retrace the phase of USD strength posted into the Friday close. EUR/USD is back above the $1.13 handle, which is helping support EUR/GBP above 0.8500. Trade deals and negotiations remain a key focus this week, as reports circulate deals could be announced by Friday. Japan, India and South Korea are seen among the nations with the most advanced negotiations.
• Meanwhile, after an extended period of consolidation, AUD/USD is gaining following the surprisingly strong showing for Anthony Albanese in the weekend's general elections. The price action puts the rate above the 200-dma and a close above would be the first since November last year. 0.6550 is the next key level here, marking the 61.8% retracement of the downleg posted off the late September low.
• JPY is among the strongest currencies in G10, benefiting from the modest pullback for US equity futures as well as firmer regional APAC currencies. The run higher in TWD has seen the central bank respond with a press conference today which, while not disclosing any new measures, saw the central bank talk down speculation that Taiwan would settle for a firmer currency at the request of the US.
• US ISM services data is the scheduled highlight Monday, with central bank speak quiet as the Fed remain inside their pre-meeting media blackout. 

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• The Aussie finds another round of demand, the G10 worst performers are the USD, CAD, GBP and the SEK in that order.
• The AUD is up across all the majors, putting aside the TWD which is up 1.60%, with Overnight desks suggesting some Exporter demand in TWD.
• Next immediate support in EURAUD is seen at 1.74536 (prices are according to Bloomberg), the very short term 76.4% retracement taken from the 2nd April Tariffs day.

(Chart source: MNI/Bloomberg).