The US Dollar regained some strength following Friday's losses due to the weak employment numbers. EUR/USD opened around 1.1280 in Asia and fell to a low of 1.1265, while GBP/USD declined from 1.2875 to 1.2855. Meanwhile, USD/JPY rose from 110.30 to 110.60 driven by the broad USD strength.
Oil prices rallied following news that several Gulf states have cut their diplomatic relations with Qatar. WTI rose from $47.65 to $48.40 overnight. Resistance is now seen at $49. Should it break above that level, a rally towards $50.50 seems likely.
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