The week starts with the EUR/USD pair staying below the 1.2730 following Friday's comments from ECB official Axel Weber and overnight data on manufacturing and services. We highlight the concerns facing the Euro. The Yen gained on the greenback, as it seems less likely that the BOJ will intervene in markets. The Aussie fell to open the week following an election in which no party won a majority, but then rallied on merger and acquisition news.