The pound declined against its major counterparts in European deals on Monday, as investors await any potential breakthrough in the Brexit deadlock and as a data showed weaker than expected construction sector activity for January.

Survey data from IHS Markit showed that U.K. construction sector activity slowed to its lowest level in ten months in January.

The IHS Markit/CIPS construction PMI fell to 50.6 from 52.8 in December. Economists had forecast a score of 52.5.

A PMI reading above 50 suggests growth in the sector.

Tory MPs will meet Brexit Secretary Steve Barclay to discuss an alternative arrangement to the Irish backstop.

With just 53 days left for Brexit, the EU and the UK are still unable to reach a deal that could avoid the return of a hard border in Ireland.

The pound traded mixed against its major counterparts in the Asian session. While it rose against the yen and the franc, it held steady against the greenback and the euro.

The pound slipped to 1.3044 against the greenback, from a high of 1.3096 hit at 3:00 am ET. The pound is seen finding support around the 1.28 level.

After rising to a 6-day high of 143.87 against the yen at 3:00 am ET, the pound reversed direction and fell to 143.34. On the downside, 141.00 is possibly seen as the next support level for the pound.

Data from the Bank of Japan showed that Japan monetary base rose 4.7 percent on year in January, coming in at 499.779 trillion yen.

That follows the 4.8 percent increase in December.

The pound retreated to 1.3009 against the franc, following a high of 1.3052 touched at 3:00 am ET. The next possible support for the pound is seen around the 1.29 level.

The pound reversed from an early high of 0.8740 against the euro, declining to 0.8772. The pound is poised to target support around the 0.89 level.

Survey data from Sentix showed that Eurozone investor confidence weakened for a sixth straight month in February to its lowest level in over four years.

The investor confidence index for the euro area dropped to -3.7 from -1.5 in January. The latest reading was the lowest since November 2014.

Looking ahead, U.S. factory orders for November are scheduled for release in the New York session.

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