 Risk appetite is taking a back seat for now as investors are not too satisfied with the tiny tariff rollback in the US-China phase one trade deal. Better than expected economic data from China also provide little inspiration. Australian Dollar trades mildly lower in relatively quiet markets in Asia. The fact that it's followed by Yen as the second weakest suggests lack of clear direction in the markets for now, after last week's wild rides. Sterling is currently the stronger one and more volatility is anticipated with the heavy UK calendar ahead. Technically, GBP/USD, GBP/JPY and EUR/GBP are staying in consolidations at this point. There is no chance in the Pound bullish outlook. We'd expect 1.3050 minor support in GBP/USD, 142.47 support in GBP/JPY, and 0.8508 resistance in EUR/GBP to hold. USD/JPY was rejected by 109.72 resistance last week despite the broad based selloff in Yen. This level could be back into focus this week. Break could be a sign of return of risk appetite or another rally in treasury yields. In Asia, currently, Nikkei is down -0.11%. Hong Kong HSI is down -0.33%. China Shanghai SSE is up 0.19%. Singapore Strait Times is up 0.09%. Japan 10-year JGB yield is up 0.0050 at -0.023. | 
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