Filmed by Rod Fitzgerald. Produced by Filip Fortuna.
Here's what we're watching as the trading day gets going in London. Pound sterling under pressure, dipping below 122, at a level last seen in mid-January. It appears some [INAUDIBLE] ahead of the chancellors budget announcement due at lunchtime. The shapes as a delicate balancing act for Mr. Hammond. And the currency action may well snap back once we hear from him.
Talking up the UK economy's prospects in the face of Brexit and highlighting an improving budget outlook could well sway the current cautious mood we're seeing for the pound and the [? gilt ?] market. Looking across equity markets, the mood is rather down, as investors reflect on last week's report run. Wall Street pullback overnight for the second day running with S&P futures indicating further downward pressure beckons at the open.
Sentiment rather fragile here ahead of Friday's employment report. The European shares they're also on the defensive as investors await the European Central Bank meeting due on Thursday. For the dollar, gains are modest, as gold slips with bond. Traders pricing in a 90% odd of Federal Reserve rate tightening next week.