The euro remained under pressure as political uncertainties took their toll, with early elections called in Germany and ahead of an expected 'no' vote in this weekend's French referendum on the European constitution. The dollar stayed firm meanwhile, looking poised to continue gaining on the back of increasing evidence of a divergence between a strengthening economy in the US and weakness in the euro zone, as well as the UK and Japan. With little of note on today's calendar, trading was subdued, however. "With a light data calendar this week and US and UK holidays next Monday, market focus on the prospects for the French vote is likely to dominate," said Mark Austin at HSBC. European Central Bank president Jean-Claude Trichet's testimony this afternoon before an EU parliamentary committee may attract some attention. Beyond that, markets will be looking to tomorrow's German ZEW survey followed by the key Ifo business sentiment report on Wednesday, both of which are expected to be on the softer side. By contrast, US data this week are set to be positive. US first-quarter GDP figures due on Thursday are likely to see an upward revision, while durable goods orders on Wednesday are expected to show a rise in April after three months of weakness. Elsewhere, there was more bad news for the pound after the latest survey by property website Hometrack suggested that the UK housing market is still failing to show signs of picking up.