Two ECB Governing Council members hinted at sovereign QE as the chorus grows louder with the ECB meeting exactly one month away. Early-week moves have been small so far after USD led last week and CHF lagged. Weekly positioning data showed that CHF shorts picked a bad time to give up.
The top news on the weekend was from the ECB. Vice-President Constancio said negative inflation is expected in the coming months and that it needs to be looked at very closely. He left himself some wiggle room, however, saying that a few months of negative prices doesn't necessarily signal danger.