Chinese markets reopened after a week-long break and the Shanghai Composite fell immediately after the open. However, risk appetite improved generally and the other main stock indices in Asia rose overnight. The Nikkei rallied more than 6 %, which boosted the USD/JPY. The pair traded as high as 113.98 in Asia. Meanwhile, EUR/USD fell from 1.1250 to 1.1212, while GBP/USD consolidated in a 1.4490-1.4530 range. The commodity currencies were bid, with AUD/USD rising from 0.71 to 0.7165 and NZD/USD climbing from 0.6610 to 0.6660.
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