1. The GBP in crash mode

The British pound tumbled to the lowest level since October’s flash crash on Monday, following media reports that suggested Prime Minister Theresa May's government was prepared to make a "clean and hard" exit from the European Union, ahead of her speech on Tuesday.

The pound fell by as much as 1.5% to hit lows of 1.1988 in early trade, a level not seen since the flash crash of early October. It was last at 1.2059 by 10:55GMT, down around 1% on the day.

2. Global stocks mostly lower

U.S. markets will be closed Monday for the Martin Luther King holiday, a factor analysts said would likely limit global trading volumes.

European equities were lower in mid-morning trade, as investors await more detail on the U.K.'s Brexit plan and the inauguration of President-elect Donald Trump in the U.S. later this week.

Earlier, in Asia, markets ended broadly lower, with the Shanghai Composite in China closing down 0.3%, while Japan's Nikkei slumped 1%.

3. Gold rises to 8-week high

Gold prices started the week higher, rallying to the strongest level in around two months with investors spooked by concerns over Britain's exit from the European Union, while U.S. policy uncertainty lingered ahead of President-elect Donald Trump's inauguration.

Prices of the yellow metal touched a session peak of $1,208.70 a troy ounce, a level not seen since November 23. It last stood at $1,202.15, up almost $6.00, or 0.5%.

4. German automakers down after Trump warning

Shares in German carmakers BMW Daimler and Volkswagen fell after U.S. President-elect Donald Trump warned he will impose a border tax of 35% on vehicles imported from abroad to the U.S. market.

In an interview with German newspaper Bild, published on Monday, Trump sharply criticized the German carmakers for failing to produce more cars on U.S. soil.

All three carmakers have invested heavily in factories in Mexico, where production costs are lower than the United States, with an eye to exporting smaller vehicles to the U.S. market.