The US Dollar weakened in Asia, especially against the commodity currencies. AUD/USD opened at 0.7480 in Sydney and rallied to a high of 0.7540 later in the session. Similar price action was seen in NZD/USD, which rose from 0.7255 to 0.7310. The Canadian Dollar benefited from a rally in Oil prices and USD/CAD fell from 1.3220 in the early Asian session to a low of 1.3150.
EUR/USD was quiet as usual and traded in a 1.1150-70 range. GBP/USD bounced slightly after heavy losses on Friday and rose from 1.2995 to 1.3045. USD/JPY volatility was low overnight, as Japanese markets were closed for a public holiday. The pair started the new trading week around 102.20 and spent the session in a 102.00-40 range.
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