Sterling ended the day virtually unchanged against the euro and U.S. dollar amidst mixed data. The CBI total trends survey missed expectations coming in at -17 versus -5 expected. However the CBI Business optimism index rose to -8, a big improvement from last month’s -47 reading. The details of the report were less encouraging with the employment component falling and prices rising. Losses in GBP were contained by some Brexit headlines -- UK Prime Minister May said Monday that there was “no suggestion” that government is currently seeking a hard Brexit. She also indicated that there would be a series of Parliamentary debates on Brexit, which suggests that Article 50 won’t be invoked easily. Sterling briefly traded below 1.22 but quickly rallied and continues to hold this support level. The main focus for the U.K. this week will be Thursday’s GDP report.