Commodity currencies lead as risk appetite improves to start the week

Stocks are continuing the late recovery from last week with European indices opening higher as US futures also tick up on the day. That is helping to see the aussie and kiwi stretch their light gains from earlier to a decent showing now. AUD/USD is up 0.6% on the day to just above 0.6950 currently:

The drop on Friday was held near the 50.0 Fib retracement level at 0.6864 and buyers are looking to try and erase the daily drop from then so far today.

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