CURRENCY - SAFE HAVEN ON DEMAND , COMMODITY CURRENCIES CORRECTED

• Trading could be somewhat subdued as financial markets in Australia, New Zealand, Hong Kong, and Britain are closed for the Easter Monday holiday.

• On Early Monday Asian session Commodity currencies slipped against safe-haven units such as the dollar and yen as a record output cut agreed by OPEC and other oil producing nations failed to offset broader concerns about global demand for resources.

• The greenback drifted higher against its Australian and New Zealand counterparts, which are seen as risk sentiment barometers, in a sign investors remain concerned about the global demand for commodities.

• Financial markets remain on edge over the spread of the novel corona-virus pandemic as severe restrictions on personal movement drag the global economy into a deep recession.

• The dollar rose 0.24% against the Norwegian crown to 10.21 and 0.44% to 23.43 Mexican pesos . Against the Canadian dollar , the U.S. currency held steady at C$1.3965.

• Currencies from Norway, Mexico, and Canada - all major oil producers - got a boost on Friday as the agreement to cut output began to take shape, but these gains disappeared on Monday as investors avoided risk assets.

• While oil futures erased early losses to trade higher in Asia, currency markets showed some investors remain concerned about excessive risk.Other currency traders pointed to a decline in U.S. stock futures as a supportive factor for risk-off trades.

• The cautious mood boosted the yen, which is sometimes sought as a safe-haven because of Japan's current account surplus. Against the safe-haven Swiss franc , the greenback held steady at 0.9656.

• The dollar traded at $1.0936 per euro, near its lowest level in more than a week. Further declines in the dollar may be limited with speculative net short positions in the U.S. currency having risen to their highest since May 2018.