The dollar continued its broad decline even though U.S. markets were closed. The dollar index, which tracks the U.S. currency against a basket of six peers, traded at 0.437 at 6:45 a.m. HK/SIN after falling as low as 0.279 on Monday.
“Holidays typically mean consolidations nevertheless today, less participation coming from the U.S. translated into exaggerated moves in currencies driven by low liquidities,” Kathy Lien, managing director of FX strategy for BK Asset Management, said in a note.
Meanwhile, the euro extended gains as the greenback sank inside the last session. The common currency touched its highest levels in three years on Monday, climbing as high as $1.2296 before paring some gains to last trade at $1.2268.
In Asia Pacific, futures implied Japanese equities might be little changed at the open. Nikkei futures traded in Chicago were flat at 23,715 compared to the benchmark index’s previous close. Osaka futures were slightly softer at 23,670.
Down Under, the S&P/ASX 0 slipped 0.26 percent inside the early going.
Rio Tinto shares outperformed some other large miners, tacking on 0.29 percent after of which reported fourth-quarter production figures earlier inside the day. The company said 2017 iron ore shipments rose 1 percent as well as also were in line with guidance. Fourth-quarter iron ore shipments rose 3 percent compared to the same period one year ago.
Trade was thin on the energy front due to the closure of U.S. markets, although prices remained near three-year highs.
Softness inside the dollar also saw some other commodities strengthen on Monday, with gold touching its highest levels in four months as well as also more than 1 percent gains seen in copper, nickel as well as also zinc.