It remained relatively quiet overnight, as Chinese and South Korean markets were closed for a holiday. Australian markets were open, but activity was low due to Labour Day holiday in several states.
EUR/USD opened at 1.1230, slightly lower from Friday's open, and consolidated in a 1.1225-45 range overnight. GBP/USD came under pressure after UK Prime Minister May announced that the government will trigger Article 50 in March of next year. The pair opened around 1.2915, down 70 pips from Friday's close, but was able to recover slightly later in the session, rising to 1.2945.
USD/JPY traded in a 101.18-70 range in Asia. The pair saw increased volatility after the Tokyo open, but eventually settled back around 101.41.
The commodity currencies are slightly down on the day, led by losses in the New Zealand Dollar, which is down 0.30 % against the USD.
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