Price action in FX was quiet overnight. EUR/USD opened at 1.1220 in Asia, little changed from Friday, and traded in a 1.1220-40 range. GBP/USD rose from 1.2960 at the open to a high of 1.2985. USD/JPY came under pressure in the early Asian session and fell from 101.00 to 100.70, but bounced from there and rose back to 101 later in the session.
The commodity currencies are slightly down on the day, as AUD/USD fell from 0.7630 and NZD/USD declined from 0.7250 to 0.7220.
Oil prices bounced slightly after heavy losses on Friday, but precious metals continued to decline as the USD regained some strength.
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