The Euro declined sharply overnight, after Italians rejected a constitutional overhaul, which led to the resignation of Prime Minister Renzi. EUR/USD opened around 1.0590 in Sydney, down 100 pips from Friday's close, and extended losses to 1.0505 later in the session.
The Pound also came under pressure, but managed to recover. GBP/USD opened at 1.2670 (down from 1.2720 from Friday's close) and declined to 1.2630. It found support there and rallied back to 1.2735 at the Tokyo open.
USD/JPY caught a bid in the early session and rallied from 112.90 to 113.85, while the commodity currencies are slightly down on the day. AUD/USD fell from 0.7460 to 0.7410, while NZD/USD declined from 0.7135 to 0.7070.
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