The USD is mostly lower As the North American session begins the GBP is the strongest and the CAD is the weakest of the major currencies. The USD is mostly lower in early NY trading with declines vs the GBP, JPY, and NZD and more modest decllines vs the EUR, CHF and AUD. The USD is higher vs the CAD. The GBPUSD tried to move back below the 100 day MA at 1.3682 area but failed. The price is currently trading above its 100 hour MA at 1.3756. The US stocks are lower in pre-market trading. The US yields are modestly mixed. This week, there are 3 and 10 year note auctions at 11:30 AM ET and 1 PM ET respectively. The 30 year bond auction will be tomorrow at 1 PM ET. This week, the US earnings calendar will get going with banks leading the way (JP Morgan, Citicorp, etc). US CPI will be a key released tomorrow and retail sales will be released on Thursday. By Greg Michalowski