FXstreet.com (London) - Alvin Pontoh, Strategist at TD Securities, said that the ‘Taper fear’ following Friday’s stronger-than-expected US jobs report has led to broad-based sell off in Asia-Pac equity markets and markedly higher yields.

He went onto say that currencies are universally weaker against the mighty USD, with KRW and INR losing the most ground. The AUD has fluctuated in a narrow 0.9040/60 range against the USD since the morning session. He said today is likely to be a relatively quiet day for data releases, so markets are still likely to be digesting Friday’s payrolls report as well as the BOE and ECB messages last week Highlights for the rest of the week include the FOMC minutes (Wed), BOJ meeting (Thu), Chinese trade data (Wed), and Australian employment (Thu)