The Australian dollar is on the slip from late Friday levels  early trade had it around 0.7260 and its still there

This is weighing on the opening hot potato game:

Check out the link, its not just trade tensions but a diplomatic spat also – surrounding China perhaps contravening US sanction on Russia 

This is a negative for risk, exacerbated by the very thin liquidity conditions that will be tested further today with Japan out on holiday (and others) 

With risk a bit on the nose (smelly) yen is a bit better so far, USD/JPY around 112.45, down from late Friday just a few points.