Some traders were also taking a risk-on approach as the global markets looked more stable.
“The Chinese have stabilized the yuan, the lira hasn’t been annihilated this morning so once the sharp FX moves have calmed down and as long as the (company) earnings are good, you have a more risk friendly environment,” Societe Generale strategist Kit Juckes told Investing.com.
The Chinese yuan has weakened for the eight consecutive week last week, its longest losing streak since the market rate was unified in 1994, Business-Standard reports.
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