Markets were quiet overnight, with no major data releases or events and markets in China, Singapore and Hong Kong closed for the Lunar New Year holiday. EUR/USD traded in a 1.1128-49 range, while GBP/USD consolidated between 1.4480 and 1.4515. USD/JPY started the new trading week at 116.800 and rallied to 117.35, supported by gains in the Nikkei. Commodity currencies also recovered slightly, with the AUD/USD rising from 0.7060 to 0.7105 and NZD/USD from 0.6615 to 0.6645. USD/CAD fell to a low of 1.3868 overnight as oil prices rose.
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