Risk Appetite Underpins Gains in Asian Session

The USD index was pushed to fresh 2009 lows on Monday in Asia dropping to 78.132 and the lowest levels since mid-December. The AUD-USD traded to highs of 0.8393 and the highest levels since last September, while Kiwi traded to 0.6652 and the highest level since last October. USD-CAD fell to 1.0753 and the lowest levels since October. EUR-USD rallied to 1.4308 and a two-month high while GBP-USD rallied to 1.6776 and the highest levels since last October. USD-JPY, while pressured, remains in a familiar range consolidating in a tight 94.65-85 range. Asian stock markets were mixed, with profit-taking setting in after the MSCI Asia ex-Japan hit the highest levels since September last Friday and after the Nikkei hit a 10-month high last week as well. Commodities remained bid on the weaker dollar with gold edging up after gains over $18 on Friday and with NYMEX crude rising over $70.