The early interbank market is testing Friday night’s lows near 1.2625 but hasn’t managed to break below there yet, the range so far this morning being 1.2630/58. The AUD continues to hold up well despite the risk-off environment and is trading just below 1.0300 while elsewhere cable is at 1.5290, EUR/CHF is 1.2070 and USD/JPY 77.00.

Good luck today.