Its kicking off already in Asia this morning, with USD/JPY down around 20 points from late Friday levels:
And, EUR/JPY:
Liquidity is, of course, very thin at this time of the FX week, with only New Zealand and Australia interbank active. And its going to remain thinner than normal for a few more hours as Tokyo is on holiday today. A degree of normality will return in a few hours once Hong Kong and Singapore come online (i.e wake up and get into the office).
