The GBP/USD pair was being traded under the 1.23 handle at the London open on Monday, following last week’s events affecting the UK’s future and the Brexit deal. The bill, that will delay Brexit by another 3 months, will now be looked over by the Queen before being made part of the law. However, the Cable was influenced as British Prime Minister Boris Johnson suggested that he could ask the House of Commons to place another vote on an election. Johnson is set to meet the Taoiseach Leo Varadkar in Dublin today, to discuss the Irish backstop. The Cable continued to drop since Thursday, marking a bullish flag as it trades at 1.2270. 

A bigger-than-expected fall in the German imports did not affect the EUR/USD pair’s value, which remains to be traded at around 1.1030. Despite having a lowered value on Friday, the pair ended the week with gains, following the publication of a US monthly jobs report, highlighting that the economy did not reach the 158K jobs expected, having only added 130K new jobs in August. Fed Chair Jerome Powell’s comments stating that he does not think that a recession is coming up helped to boost the USD during Friday’s session. The EUR/USD was traded over the 1.1000 psychological mark through the Asian session on Monday. 

The Chinese yuan gained 4 pips, going up to 7.0851 against the USD, the China Foreign Exchange Trade System showed. The People’s Bank of China set the Tuan reference rate at 7.0851 on Monday.