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.
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