Among Asian markets, Japan’s Nikkei 225 was up 0.53 percent, retracing earlier declines of 0.44 percent,. In Hong Kong, the Hang Seng index was up 1.37 percent. Chinese mainland markets were up, with the Shanghai composite up 1.65 percent and the Shenzhen composite up by 1.34 percent.
On Monday before market open, the People’s Bank of China guided the yuan marginally higher by setting the midpoint rate at 6.6472 against the dollar, compared with Friday’s fix at 6.6496. China’s central bank lets the yuan spot rate rise or fall a maximum of 2 percent against the dollar, relative to the official fixing rate.
The British pound traded at $1.3295, recovering somewhat after tumbling to around $1.3225 in the wake of comments from Bank of England Governor Mark Carney last week that indicated further easing would be on the cards. The currency remains above the 31-year low of $1.3122 it touched in the immediate aftermath of the referendum results showing the U.K. voted to exit the European Union.
The dollar remained relatively stable against a basket of currencies, with the dollar index at 95.624.
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