EUR/USD opened at 1.1195, little changed from Friday's close, and consolidated in a 1.1175-1.12 range. GBP/USD started the day at 1.2425 and traded between 1.2390 and 1.2445 in Asia. Volatility is likely to remain high in the GBP pairs in the near-term, as renewed Brexit concerns will weigh on the currency.
USD/JPY opened slightly higher from Friday's close, at 103.25, but it quickly reversed gains and filled the weekend gap. The pair fell to 102.80 overnight. Meanwhile, the commodity currencies were rather quiet. AUD/USD traded within a 0.7590-0.7610 range, and NZD/USD was stuck in a 0.7150-80 range.
USD/CAD saw a gap lower to 1.3235 at the open (vs. 1.3290 on Friday) and extended losses to 1.3225 later in the session. However, oil prices declined overnight and it will likely fill the weekend gap soon.
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